ed steer reminds us that no matter how well the rally in precious metals is going, all that matters is when jp morgan decides to go short again. dollar weakness, supply and demand...none of it will matter the next time morgan decides to pull the plug:

All eyes seem to be focused on what's happening with the U.S. dollar. There's no question that the 3-year chart posted below is an ugly one. The greenback is now well below its 200-day moving average. The next line in the sand looks to be slightly under 78 cents...which isn't too far off...considering the way it’s been falling. The question is...will it stop there?

click to enlarge

While I'm on the subject of the almighty U.S. dollar, I'd like to point out that the dollar could do absolutely nothing...and the price of gold or silver could still explode to the upside...or crash and burn. Please don't ever forget that two or three U.S. bullion banks are still in total control of these two markets. Their decision to go short [or not go short] is entirely what's driving the price pattern...either up or down. This rally we are now in, is the same as every other rally that we have ever had...and will end the same way...unless these American bullion banks change their modus operandi. It's as simple as that. So, let's enjoy the ride...but always be on the lookout for "in your ear." The HUI is up more than 100% from its October lows...but still looks like it has room to run...JPMorgan et al...willing.

http://www.caseyresearch.com/display...