The collapse in gold and silver occurred well before the dollar started to rise. The media commentary this evening will state that the metals sold off due to a rebound in the dollar but this is not a cause-and-effect relationship but rather a carefully engineered event to make a statement.

This week the G20 is meeting and the last thing that anyone wants to deal with is a runaway gold price during the propaganda fest that is sure to follow. Also, the usual COMEX takedown is underway ahead of the op-ex.

This too will pass. We have enjoyed a very strong market for the PM sector since mid-August and its time to consolidate and let the crooks cover some shorts. Early in November its game on again.

cheers!

mike