GOLD 0.51% $1,391.7 gold futures

mmmmm-update

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    As anticipated, Goldman Sachs came out right off the bat in New York as a big seller in the OTC market while Refco was the early big seller on Comex. This selling was met by intense buying from the Arabs. For months now Gold Cartel forces have tried to turn the black-box tech specs to pitching sellers. Once again, the cabal ploy failed.

    As a matter of fact, more and more people are beginning to notice how differently the gold price is trading from years past. A year ago gold would have closed $5 lower on a day like this. Hung Fat and Dr. No say NO MORE! Once again we see clear evidence that a group of strong hand buyers is taking on the price riggers.

    Comex open interest fell 4419 contracts to 195,096 as a result of the Friday June option expiry. That might be about as expected as much of that decrease represents option holders that sold futures against their in-the-money call positions. June gold traded briefly below $310 today and that probably shook out some more of them, but since June gold closed at $310.90, I would think the shorts have to be very nervous tonight. They failed to break gold even as both the stock market soared and the dollar firmed.

    Although gold closer lower, it ended up way off its daily low once again. There is a good reason for this increasing occurrence. The locals have made good money over the years playing the short side and trading along with the cabal crooks. Today is a good example. The locals went heavily short, expecting a big price break. When it failed to do so, they had to cover late in the trading session.
 
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