Maybe it was Marketsurfers hedge fund that was holding gold now they unloading...they probably bought at $30 4000 years ago...
I don't know, but it sure looks like a flight to safety here. Maybe some still think gold and silver will be a store of wealth. If gold & silver weren't manipulated by 3 banks in cahoots with the Fed, the true price would be much higher. It's political, but eventually, real economics will prevail.
Yep it's flight to safety. It only rallied after the US dollar started getting slaughtered and the US financial system looked in danger. It's a great long for about 24-48 hours, then it will be a great short.
Nonetheless, it still shows a glimpse of underlying psychology. You're probably right about the short though. The powers that be don't want the dollar to look bad. It's the lipstick on the pig thing again. Have you looked to see if you can find an ounce of silver through traditional dealers? It's difficult, yet the spot price is at lows. Supply and demand aren't allowed to work out price here. Free markets are only an illusion to the unknowing. Very odd spectacle.
actually gold was already up sixty dollars by the time the usd moved from positive to negative territory today just after noon.
This fool has been swamping other boards with his get out of oil and gold now its gonna collapse as well my best guess is he is being payed per every message anyone writes in this topic so I will leave it at this.