Warm greetings from NY

Monday morning markets opened for gold across the board rather luke-warm. In Asia gold traded at 930-935. Europe, 930-935. Then to NY where they push gold down to 920 and below. The fact that the rest of the world agrees that 930 is the common price per oz in US dollars, should tell you something. Are we more in tune than they are? Or is it more of just an utter hatred for gold? After all, If gold goes down, it means more people are believing this recovery. Except one problem... The DJIA is down almost 180 points as I write this so there is some form of uncertainty here. Gold is not being sold at 920 because people are taking profits, Paper gold contracts are shorting the living hell out of it to scare you out of your positions. A piece of paper is being used to drive the price downwards. Be it either on the Comex shorts, or the "dollar rally", a piece of paper is being used to scare you.

And yes, I know, I said gold would not fall below 930, and it has significantly. Well, nobody is perfect. Like I said before these prices are just too low for gold at this moment, and will not be sustained. I would expect a rejection of these prices and a rally back into it's now normal trading range of 930 very soon. (say tomorrow or Wed.) I also said It would reach 1000 by the end of this month. That is coming. By the end of the month is still very possible, more likely this may extend into mid July. I'd rather be 2 weeks to early than 2 seconds too late. This consolidation is getting ready to explode and it will happen soon. just imagine trying to compress a spring, the more it compresses the further the "launch".

Hold on to your positions. I have not steered you wrong. All that is to come will be here soon.

-J