Gold closed down $16.60 to finish the comex session at $1669.50. Silver also faltered down 71 cents to finish the day at $31.70. As expected, another raid was orchestrated by the bankers for two reasons:
i) options expiry on gold and silver metal contracts. The options expiry is Monday.
ii) the huge OI in silver and generally the bankers try and force silver holders to relinquish some of their long positions.
Today, Jill Sommers, a CFTC commissioner who is totally against us resigned.
It is possible that many rats are fleeing a leaking ship.
The Royal Canadian Mint announced that it two was rationing silver sales.
As this was announced, the silver price was tumbling. Go figure!! ...
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India's gold demand surged 41% in the fourth quarter of calendar year 2012. World Gold Council (WGC) data showed the countrys demand at 262 tonnes in the quarter, compared with 185.5 tonnes in the corresponding period previous year.
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Click over for the rest. I wonder if he is indeed right about the rats.