Loading ...the divergence of the past 2 days between PM stocks/ETFs and comex futures is
almost always resolved with gold futs dropping…I kinda think that won’t happen this time…gold has had a “rescue” bid for the past 2 months or so-hence the triple bottom in the 1130-40 area…the FED statement yesterday was extremely gold bullish–but the bad guys came in an “algoed” gold down and the $ index up-the $ index pump was covered on Zero Hedge….the statement yesterday was just another addition to the bullish macro picture for gold–recognition time for gold as the currency of last resort and last bastion of undervaluation is now accepted by the entire financial community-it is no longer just the dialogue of the goldbug contingent-does that mean $5000 gold next month–highly doubtful…but….
I think it does mean there is a solid bid under gold-and as such, I just don’t see gold suddenly becoming a liquidating market…do you?