Yup, I agree rory. It is becoming clear that the gold market has turned into something like the fractional-lending fiat currency (printing press money) markets. Investment banks lend out more gold than they own, and in fact they lease someone else's gold that may not be real and then double that on paper before re-leasing it again. The same paper gold gets sold 10 times over, pushing the price lower.

That sort of thing has kept the gold market down a long time. Also why it's on my "to-do" list to pick up some more physical gold. I have certificates, but more than likely if the s___ hits the fan, then they're just paper like everything else.

Re: The KXL price rise - we collectively wrote a lot about each 10 cent drop on the way down, so it's pretty legit to say that now that we're up 50 cents from the bottom, that's a real story.

Also, the volume is pretty good and back to regular levels at 1/3 million shares per day. The volume is doing a good job of confirming the price rise.

Here is the view from bigcharts showing volume in a concise way.

Now, are people/institutions buying KXL again because it's the season again, or does someone really know something we don't already?