Gold...It held its 20 dma nicely, if it can climb back over its 10 dma at 965, it could be off to the races. There's also a downtrend line on the hourly chart from last Wed, and it has been running up to test that line and then selling off since last then. It's actually forming a nice descending wedge on the hourly, which obviously can sometimes be a bullish signal. I think the stars are lining up for a huge move in July/August and heading back into India's big seasonal buying period. \All of the short term technical trading indicators are coming down from "overbought" territory, the dollar is rolling over again, the BRIC may signal a movement away from using the dollar as the global reserve currency next Tuesday when they meet in Russia, we have substantial room for open interest to climb AND the last time the net cartel short as a percent of total open interest was this high was back in 2005, before gold smashed thru $450 and ultimately peaked over $730 in May '06. A prudent speculator would be building a big position here...

Today is hugely bullish. i finally spent some time with that Arnesberg piece you sent around a couple days ago and I agree with his conclusion about this being similar to June 2005.

The Sinclair/Armstrong forecast "dovetails" with some other analysts who think gold could take off in late June AND it coincides with that BRIC meeting in Russia about the dollar....and finally...

Apparently Jim Dines has become an uber-bull on precious metals and minings stocks again. I used to subscribe to him back in 2001 and his thinking on this whole sector is what got me very interested. Dines is probably one of the most accurate "trend" forecasters out there going back to the early 1980's.

The yield on the 10 yr T note has collapsed to 3.86% with commodity prices on a tear and no public news to account for the drop. Either there is some horrific news coming soon to account for this drop, OR there has been significant new quantitative easing to FORCE our rates lower.

This may be the most epic up and down battle I have witnessed over the past decade in terms of the tension over a particular price point, that being $960. The Gold Cartel is massively short and getting more so. The odds in the past are that they win because they own the casino….

However, the bums have had gold, and we short term bulls, on the ropes twice, but the new buyers have punched right back, almost fearlessly, in an IN YOUR FACE manner. The Gold Cartel is huffing and puffing and not getting much bang for their buck. Thus, they are averting to Plan C over and over again, meaning desperately taking the gold price down after the Comex close when there are few traders around. Perhaps times have changed for them as their tactics seem almost hysterical.

It seems to me we are close to some price explosions for gold and silver with COMMERCIAL SIGNAL FAILURES (the very short commercials get buried) looming on the horizons for gold and silver.

Only a mental midget could fail to see how a maligned force is doing all they can to prevent the price of gold from going to where it should be trading. Those well known mental midgets of the mainstream gold world are going to have egg on their faces in the near future and will intellectually pay for their cluelessness or inane commentary.