There will be a battle royal at $40. I suspect that they had a lot of covering to do - shorted from 50 down and covered a crapload of older shorts that were put on a much lower levels at 33 to 38 - So they needed some wiggle room below forty to cover - now they will dig in at 40. I see a wall here and trench warfare going forward for the next 6 weeks..... if wrong and we blow through 40 easily however.... look out above.

This is their last line of defense so please remember to not sell an ounce and buy more physical on the dips if you can afford it. This is the only thing that will strangle them slowly and I believe the Chinese and Indian have taken up the task nicely. The western world keeps getting funneled into the fraud GLD and SLV. If these two entities could be exposed for what they really were, the price of the metals would double overnight !!!!!!

There has been a paradym shift in the media that used to say gold/silver is bubble - run for your life. Now after the takedown, they say if you want to re-establish your gold position, make sure that it is in the paper vehicle called GLD or SLV. This way they convert your PM demand into a deriviative that has no physical at all behind it.

China will accumulate more gold than the west as we subsidize the price to help them accumulate. India will become the richest country in the world !!! The east will kill the west so bad on every front except for one - military prowess - so look for full scale world war in about 5 years.