Loading ...Actually the BRIC’s meeting is next week.
And while it could be a ‘buy the rumor – sell the news’ event with current COT positions – what nobody is discounting right now is an announcement that the “Unit’ will be live as of next week.
All of the gold buying over the past year is certainly sniffing out the eventuality of the Unit coming online at some point in the future; but, such an announcement next week would be a surprise because of last year’s (BRIC’s meeting) disappointment.
Such an outcome would certainly send gold to $3,000 very quickly; and quite likely break silver above the $32.50 minot line … possibly causing some cabal defections and a big squeeze in the LMBA and COMEX paper. (they will attempt to preserve their jobs)
You can’t count on such an outcome but markets like surprises … and that would be a doozy.
Not boring … that’s for sure.
Chuckle