I see this evening gold is beginning to climb again (up $8.40 at 6:47 pm), after its usual seasonal drop beginning in early October to the latter part of October. Typically in late October it resumes its upward climb again, which began in August, and the price continues to go up until the end of February. The seasonal chart does not change much the rest of the year. The time has now come for gold to climb on seasonality.

Of course this is more than just a typical year, we are expecting a major revision of the gold curve upwards for other reasons, due to QE, inflation or deflation (either is good for gold), the long term decline in the US dollar (which should resume shortly), and the very real threat of hyper inflation in the US.

In the past we have criticized Dr Webb for poor timing on the PP's and long delays in announcing financing.

This time I think he is getting it exactly right.

He has apparently timed the announcement of the PP to coincide with the seasonal resumption of gold's climb in price, and if so he has done a great job, a very patient man considering all the complaints about the delay. I expect a big announcement within the next 3-4 days. Ike