Price of gold is very important to our Tesoro value as you know.

Firstly, Nov 23 is coming and the US supercommittee is not doing well. They are supposed to come up with a plan that will prevent the law from coming into effect; this law means that in order to prevent forced withdrawal of funding for (equally) both armed forces spending and public spending such as Medicare etc. The supercommittee are supposed to come up with a joint proposal that will decrease spending in more acceptable areas. Failure to do so by this date, and the next problem is whether or not congress will pass their recommendations if they do come to an agreement will cause more loss of confidence in the US dollar and increase the present rate of fleeing to gold worldwide.

Secondly, JP Morgan has huge short positions in both silver and gold, and apparently have extended their illegal short position in the exchange traded funds, SLV and GLD. The latter now has a 7.5% short position (illegal - they are supposed to convert your order into physical gold). Their rating has just been decreased by Weiss. If any of you have funds in these ETF's perhaps you should think twice about their safety.

All in my opinion only. The link below gives and Irish view.

http://www.youtube.com/watch?feature=player_detailpage&v=kzGJWtYnAdE