gold up..what does that mean...?

  1. 10,605 Posts.
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    Just a few quick thoughts and would appreciate any others for or against.

    Over Christmas / New Year the price rally ( and falls)were being discounted as manipulation op a thin market with Commex closed and Christmas trading volumes traditionally low.

    Also early evening (Australian Time) price movements have been criticised as the European market trying to second guess the 'big boys' in New York.

    Last nights price action cannot by itself be taken to mean to much but the magnitude of boththe bounce and the timing are imo significant.

    It s not holiday time in the US and Europe (they take theirs in summer (June) so its mostly work as usual, the bounce also follows right on the tail of suppressed prices (for one day) following George Bush Jnr's economic plan to "Save the Good Guys" (ie Himself).

    New York has driven this spike and coming less than 24 hours after GB's speech I take it to mean they have crunched the numbers and don't like what they have seen.

    Well, to quote Jack Nicholson "Well, it aint get any better than this..."
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