A day like today just shows the real truth about the gold/silver market. The dollar is collapsing today and gold barely has budged. It's all about the 3 or less bullion banks and their short position, nothing much more or less. With options expiry this week, a Fed meeting, large treasury auctions, IMF gold sale stuff and big COT short position for JPM/HSBC/Goldman, it may be Friday before gold/silver start to reflect some reality and technicals. I never under-estimate the bullion banks and their access to cheap capital or low leased gold/silver but they aren't omnipotent but they are on the inside.

Given all the headwinds noted above and the fact gold/silver haven't broken much lower then this next move higher could be strong, sustained and highly profitable. I expect to see a $300-$500 dollar move given the convergence of so many variables and opinions of people I respect with the gold/silver stocks far outperforming gold/silver. The very stories being played the hardest now, like ECU, will be the biggest movers over the next 6-9 months with micro-juniors still trying to find a worthy resource doing better but still lagging.