Loading ...Does the patient have a pulse?
Maddog – yes that’s an interesting take. Does the US actually want the gold price higher so they can revalue? Million dollar question. Maybe as you said, this is big banks circling the wagons to bail out another bank that is over-leveraged with pm shorts at much lower prices.
Could also just be a massive shaking of the tree by some big banks so they can get positioned for the next leg up.
As usual, this smash feels bad because the shares always get hit so hard. 20% on the HUI, more on some of the small caps. Gold is only down 6%, silver 12% or so. Not particularly huge moves, especially for silver. I think we’ve seen bigger moves down percentage wise during this rally for silver.
Good to see gold back above $4100. Maybe we can close the week strong. Stranger things have happened.