What was that Gold spike due to?

COINB0Y · July 13, 2009 2:40AM

roadrunner · July 13, 2009 3:02AM

PC needed $920 to help his position. Other than that, I have no clue as to why it spiked today. The dollar is still range bound, interest rates still at the same levels or lower, etc. Maybe the PPT finally took a Monday off after all the busy work they did to support bond and G8 week. If they took gold down every Monday 52X a year, maybe somone in the SEC would get suspicious.

The dollar did take a slight dip this morning, but was still above 80. The fact that the Dow jumped nearly 2% may have been enough to get people to stick up their heads and sample commodities for the first time in several sessions. And then JPM, HSBC, and GS will induce more selling and pick off some newbs so they can sell more short contracts at the next lower level.

roadrunner

COINB0Y · July 13, 2009 3:13AM

<< PC needed $920 to help his position. Other than that, I have no clue as to why it spiked today. The dollar is still range bound, interest rates still at the same levels or lower, etc. Maybe the PPT finally took a Monday off after all the busy work they did to support bond and G8 week. If they took gold down every Monday 52X a year, maybe somone in the SEC would get suspicious. roadrunner >>

That works for me.

MrOrganic · July 13, 2009 3:26AM

........for some reason metals are now tied to the s&p/djia Markets go up, metals up. Markets go down, Metals down to me this signals were in a deflationary period still.

markets up? Goldman crooked sachs will announce they made billions

coynclecter · July 13, 2009 3:27AM

<< somone in the SEC would get suspicious. >>

like they don't already know. Who wants to jeopardize thier future Goldman job by not playing ball. 600K avg annual GS bonuses are the norm.

jmski52 · July 13, 2009 3:28AM

That was no spike. Heck, it was barely a flutter.

Who wants to jeopardize thier future Goldman job by not playing ball. 600K avg annual GS bonuses are the norm.

Excellent article by Matt Taibbi in the July 9-23 issue of Rolling Stone. Great synopsis of GS's involvement in screwing us all over the past decade, with much more to come.