It was a wild one. Gold spiked again with gold flying in early Comex trading. It soared to $939 very quickly, catching The Gold Cartel off guard for the second day in a row. It is clear that the Obama Administration and their cronies are in all out managing expectations mode this week; therefore, despite surging gold demand, a soaring gold price was not to be tolerated this week. So, like yesterday, The Gold Cartel mobilized their forces and counterattacked furiously, bombing gold all the way down to $920. The Gold War is heating up dramatically.

However, spec gold longs have been emboldened lately and took advantage of the cabal assault by new buying of cheap gold. Gold came back very nicely, which doesn’t happen that often. Yet, the cabal was the cabal, preventing the price from finishing the day above the key $930 level.

Silver finally showed some decent OOMPH today. With The Gold Cartel on the attack, silver didn’t want to make the same retreat. With gold down $3 on the day, silver still left a 7 cent gap from yesterday’s Comex close and finished firmly higher.