Well gold has not had such a down day since just hours before the FED announced that they were going to QE in 2008. On a day that should have been gold positive with the debt ceiling officially raised a whopping 1.9 trillion in the US gold gets hammered down instead.

Looks like someone is desperate to me and I am sure that the desperate parties are those holding all the short gold contracts. No doubt they will have covered many today from those gamblers too stupid to take delivery.

Well we will see what the official job numbers are with there large yearly revisions that come out tomorrow. We will see if someone has frontrun these numbers.

All in my honest opinion of course.

F.F.