I am closely watching the December Comex gold contracts still standing. As of yesterday there were enough to pose a bit of a concern with the current amount of deliverable gold at the Comex, even with the recent additions.
The price volatility, both up and down, on the Comex is symptomatic of the technical nature of the trading there now, with technical implying artificiality.
As I have said, I do not expect the Comex to be the locus of a break in the gold market, since it is not the focus of the action, which has now shifted firmly to Asia and the Mideast. If the Comex should falter, it will most likely be because of a more fundamental break, or scandal, in the system. but I can't rule it out, as a de facto if not actual default.
Comex is becoming like a shell game, or liar's poker between ill-mannered children in suits, and it's really a shame. But that is what happens when a society starts mistaking wealth for wisdom, and a trader's cunning for sound social or even economic judgement.
Have a pleasant evening.