The cartel, like an obsessed prosecutor, is interested in just one thing: their ability to twist the truth and make themselves look good. I suspect it has in mind to crush the current uptrend line in and around sketch's indicated support area on gold.

Make no mistake about it, we are in the midst of a short term price suppression campaign as was evidenced by Ted Butler's reporting on the increased shorting, again, in both gold and silver by two to three US banks. Current short positions, in his last report on silverseek.com of about 10 days ago, indicate that the the banks hold short positions equivalent to last summer's numbers when following, havoc hit the markets.

The current manipulative operation started as gold approached the general 1000 area with a high of about 980 combined when both the HUI and the XAU Indexes reaching difficult chart levels. This orchestrating of price is just part of life in markets these days.

Antal Fekete in his recent report "A Primer On The Silver Basis" takes issue with all the talk concerning manipulative shorting and states that it is just "basis trading." That is, large precious metal holders depend on the income from hedge trading. He specifically speaks of China's hedge trading their massive silver holdings. He also states that large holders, in order to maintain their income flow, are just interested in a gradual assent of prices, as opposed to extreme rapid run-ups.

So, this current selling campaign will eventually reach another floor of support as Fekete indicates, when the basis traders re-enter the market by closing out their current hedge trades with buying for another day's income. As for the marker crushers, or as the cartel is concerned, they are not only at war with us but also these described basis traders when they come to market to cover.

This is the game that has been continuing in the gold market since 1000 was breached. Infortunately for the basis traders, it looks like their income is being pinched as the trading floors under the magic number are advancing.

If I were trading gold for income versus my long position, I would be wondering if the cartel would be playing their "IMF proposed gold sales card" again soon or continue exerting paper pressure on prices with the help of their banking buddies. In any event, it appears that gold is being closely monitored by important potential buyers, including China. Any positive tilting of the board could result in a buyers panic. It seems, according to Martin Armstrong's historical perspective and analysis that "it's just time" for gold to shine again.

If I were to guess, I would say that any price on gold under $930 is a buyers paradise, aside from the control the cartel still believes it possesses as obsessive greed dies hard.

Good luck to all.