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Message: Gold New High USD 1'101.25

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Re: Gold New High USD 1'101.25

in response to Gold New High USD 1'101.25 by vinceslas

posted on Nov 06, 09 10:11AM

I think you mean $1101.25 high on nearest futures contract. That is spot $1100.40 and that price lasted for 10 seconds....now back below down to $1097.

My point is that the cartel/defenders of $1100 gold are using a LOT of ammo to keep pushing gold back down from $1100 zone. Each gold thrust toward $1100 has been slightly higher since Wednesday, and this is encouraging, but silver still lags.

There is not verification of $1100 victory as yet as we must close above $1003. I would also suspect that stops would be run at around GCG [Dec. gold] $1003, and we would see a spurt up from there to $1115 area.

All in good time. JPMs have been sluggish thus far today....shouldn't be so.....pic

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