Today they tried to run in the longs on gold and silver but failed. We are now approaching the first notice day for May deliveries and it would seem that there are some very strong long positions that may want to take delivery. As a back drop we have the Dutch, French, Greek, Egyptian and other governments about to fail or change. France , not Spain or Portugal should be the focus - the "austerity" measures being asked of governments are not acceptable to their voters. This to me is the start of a huge Gold and Silver run up. AGQ is fine but it is still just paper. This is the time - if ever there was one - when people should buy physical gold and silver and take delivery. This is what I am doing little by little every day. This is when the physical market finally dictates prices to the manipulated paper market.
I am starting to build a trading position here ( as opposed to my permanent physical long position). There is a chance "they" will try to break the market here but we are two weeks from first notice day and there is a large open position which could indicate a strong rally from here. So I have bought some AGQ and will add on dips. If there is a big sell off I will add to my physical position..
This is a fuller article on China and Gold. I think this is a good area to be buying more physical metal.
FAZ is well up today so I am taking some profits. Not much to say here.
They have done a good job knocking Gold over the last couple of days so they can probably bid the stocks back up from here but I am holding my FAZ position as the next "event" may come from Europe and that is not something they can control.