I guess I was a little premature on that 2 call as a couple months have now passed and gold/silver has been hit by a bus a couple times since early february not to mention being sat on by an elephant. What I can say is the buying lately on AUM has been 5 shares up to 1 share down variety which suggests accumulation as the buyers appear and buy the ask and then disappear leaving no bids so the computers take it down on 100 shares all the time for a few pennies.

Same has been happening with gold and silver except it is 2 contracts of buying for every one contract down. The see saw has been very different kind of trading lately and certainly the physical buying has been strong. For instance today the PMfix was strong denoting large buying and then the paper players immediately took gold down $7 dollars in the next hour.

I expected a volatile week given all that is going on and things should be much clearer later this week. For sure the jobs number will be weakish next week and the TPTB for sure know this already. There is no way around further QE as who is going to buy US treasuries after operation twist ends in June, the Japanese, the Chinese, the Brits, of course none of the above as they all have their own issues to deal with. Will the US buy from it's own savings, they don't have any, no it will have to be the primary dealers based on free money from the FED or the FED itself based on QE or indirect QE, sounds like they will at least have to fire up the Carribean bank pirates once again as in the past, this is one of the FED's secret weapons.