Gold put in a decent performance today which coming on a Friday with a jobs report being released is actually encouraging. Over the years we have seen so many of these payroll report days in which gold gets pummeled for no other reason than the bullion banks decide to beat up on the metal. That strength, even in the face of very obvious orchestrated selling such as today’s, is impressive.
Gold rallied just shy of yesterday’s session high before the attack began which further illustrates my recent point that the gold selling Banshees at the Comex are furiously attempting to prevent this week’s high from being taken out since that will trigger a tremendous amount of new buying which will take price up to the last level of resistance just above $1,150 that stands between gold and a retest of $1,200. (more)
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