Included below is a couple of charts, courtesy of S. Brodrick, for the technically inclined. It is nice to see gold and the USD moving in opposite directions.

Also, a few notable gold bugs have surmised that the unusually stable gold holdings in the ETF over the past few weeks, despite a marked increase in price, most likely results from one of two possiblities. Firstly, there could be a real physical shortage in the gold market, thus sizable acquisitions are unobtainable. Secondly, the ETF gold may be in the process of being outsourced by the cartel or associates to suppress the current market.

Since the commercials brazenly increased their gold positions in the latest COT report, there is the chance that the cartel may dump gold from possibility #2 above in the near future. Perhaps even as early next week as they tend to attack usually on a Monday or Tuesday. This application of suppression may be needed quickly because the usual ploy of threatening IMF gold failed miserably this time and enormous pressure is on them.

Only time will tell - VHF