After suppressing the gold price via the phony paper options, gold prices erupted this week. At one point yesterday, gold price was up over $50 an ounce. The price flew past Larry's confirm price of 1,187 and Yamada's 1,200 and simply ignored the resistance at 1,225. Now it is retrenching some and is getting ready for the next move. The previous resistance now becomes a support so 1,225 will be tested.
When? When deep pockets are ready to move the price and the price of gold mining stocks.
You might ax 'why.' Why now? Because the economy of the whole world is FUBAR and so is the financial system. And buying gold is the way to purchase some safety and make money.
Friday, February 12, 2016
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