15 February 2013

Gold Intraday

Hard to miss the deliberate price smackdown.

As I said yesterday, "I will not be surprised to see a final big move to run the stops to the downside in the precious metals, and take additional shares and units of paper claims before the markets break free."

So is this 'the final big move?' Of course I do not know, no one does. But gold is now deeply oversold, and we are nearing the rinse phase of the wash-rinse cycle, at least according to the technical indicators.

Things like this are a pity, because they make a sham of the markets. But what else is new.

Three day weekend ahead. And the currency war is on.