And in the financial world.

Several forces are operating currently.

The fear of a Bear Market grows. This is shown by the drop in stock prices and increased shorting of bonds. Also, gold had risen to storm the level of 1,300.

Contrarian interests fought back. They believe that the FED (seeing the near panic in the financial markets) will stop raising interest rates and may even start lowering them again. This created a short squeeze in bond prices (traders no longer think interest rates will keep rising which is good for bond holders so shorts are being covered).

The forecast for gold is: If gold breaks through 1,300, it will rally to 1,370. If 1,370 is breached then gold will advance to 1,450. Should that be breached then there will be a gold spike to $2,000.

Response of big banks. Huge number of paper gold contracts sold. This dropped prices and traders were forced to sell. Gold prices then were hit again this morning. Other precious metals are doing fine.

And that is where it is today.