Yesterday was surprising for gold as it not only rose on options expiry but also on a speech on Beb Bernanke at Jackson Hole Wy. Generally, when a Fed governor speaks, they always whack gold.
we have a stalker trader who has been very reliable in the past. This was reported to us late in the day:
That said, we have some smoke. Perhaps that smoke will lead to THE FIRE. It is possible they were buying, but the price shot up so much so fast, word came back to halt the advance and save the rest of their buying for another day. While Goldman and Morgan could have been operating on the OTC market, we should still see some open interest reduction on the Comex should this "word" be fact.
Either way, it is only a matter of time before we get a Commercial Signal Failure and the cabal forces get blown out of the water. There is no way the cabal shorts can cover their positions without gold going berserk.
Next week, there is going to be another treasury auction. No doubt the usa government will be buying its own bonds. Last week, the Fed bought 76 billion on its own bonds:
OK lets go to the news of the day: existing home sales shot up by 7.2%:
Please remember that many of thse homes are first time buyers who received 8,000 dollars of grant and also half are foreclosed properties.
Dave Krentzler has given his commentary on yesterdays strong home sales:
Philadelphia is going to cut services to its 1.5 million inhabitants:
See you on Monday