The lease rates indicate that someone dumped physical gold in a non-profit seeking manner into the gold-paper markets last week. I wonder who that could be. I suspect it helped fuel the bear raid on gold today.
Bloomberg TV was having an all day anti-gold festival, so I will surmise that something gold-friendly is coming up in the next few weeks.
Perverse logic perhaps. But it is what it is.
Gold is in a triangle and given that we have an FOMC day tomorrow I will not be surprised to see another determined bear raid.
Although Silver was hit, it seemed remarkably resilient compared to gold.
Zynga IPO will be out this week along with online fashion store Michael Kors. Perhaps you can take your US paper dollars, which were stronger today on euro weakness, and buy some shares in this zynga based virtual farming economy. Maybe they can send some virtual crops over the homeless victims of the increasingly virtual US ponzi economy.