Loading ...Looking at the days’ charts of all the PM stocks and ETFs, one has to conclude that the coma was successfully induced around 11:30 am…I think what did it was the 8:30 am ADP report showing 27K jobs for the month of May…forces were mobilized…the $ sank on that news but has been algoed back to a gain of .231…this pullback went way beyond the usual intra-day shakeout to gather merchandise wholesale before the next mark up…the whole enchilada could be over and gold sent to new lows…I don’t think so but given golds track record, such a possibility can’t be ruled out. Again, it’s hard to see gold as a liquidating asset given all the macro situation.
Rah-Rah-Sis-Boom-Bah etc etc.