The second longer dated Treasury auction today squeaked by so gold took some late selling by the COMEX Comics.

That is good news for gold because there is no chance that the trillion the Fed has set aside to buy US Treasuries has the capacity to offset the lack of foreign buying.

Everybody knows, or should know, that the FED cannot sungle-handedly hold up the bond market by themselves. Herein lies the quandry. To really prop it up for a longtime, they have to commit way more than 1T to buy treasuries. But if they commit much more $$$, they'll trash the dollar and raise the public's ire even more. The FED is walking a tightrpe and there's no net underneath.