Today has seen a $25 rise in gold from the early $1527 low followed by a scary $22 give back [thus far]...and I saw a $5.20 drop in 5 seconds!
Silver was even crazier, rising $.80 from the low, only to drop a whopping $1.20 from there to a lower low for this cycle at $26.75.
Is this a quick retest of the support zone from Sept. 2012, or is it exclusively to drive pic nuts??? The XAU and HUI are holding steady even with G&S well down on the day, and the DOW is about unchanged.
The Euro is a full 60% of the USD index and rumors are flying, causing the EURO to jerk around wildly. This forces big and fast moves in the USD, and this yanks G&S around...which yanks pic around...which yanks around pic's posts...which yanks confidence from beneath us all...which...well, you get the picture.
It is all leading to the end of something....maybe me. Turd Ferguson said a few hours ago to expect a scary retest...I hope what I just saw was IT! We are now coming off of these retest lows of an 8 months decending triangle consolidation retrace from the $ 1923 gold and $49 silver highs.
A good whiff of QE-3 might do the trick. GOLD MUST HOLD THE $1525 AREA OR WE WILL BE VAPORIZED...at least psychologically....pic
