Today was Options Expiration for the Aug. gold futures contract. Gold is always hit to protect the Call sellers.

Plus the other reasons as well, the selling of massive amounts of Treasury bonds this week, and trying to make the Dollar look better while China is in town. The usual putting of the lipstick on the pig for appearance purposes.

The Dollar did move up some today, but the move amounted to absolutely nothing. I doubt it convinced China of anything. It sure wasn't enough to make gold and silver fall like they did today. So that reason is pure window dressing and spin to convince the dumb money, if there's any dumb money even left to be fooled.

Here's the link to the gold Options Expiration schedule. Go back and look at what gold did on each of those dates. Also watch what will happen to gold on Aug. 26, assuming the COMEX does collapse before then.

Terry