TSX: At mid-morning today your secretary/treasurer noticed that despite the market opening's $30 pounding in the gold price, gold and the gold mining shares were turning upward, and by the end of the day your secretary/treasurer was nearly amazed that the gold price had clawed back to $1,400 and the shares had finished down only 1%.
It was almost like Tuesday's remarkable recovery after Monday's pounding.
A few years ago the gold price and the shares would have required months to recover from such poundings, even a pounding inflicted from such a distorted and misleading federal jobs report as was announced today.
But as far as your secretary/treasurer can tell, there is no commentary tonight about the remarkable recovery of gold and the shares except in GATA Chairman Bill Murphy's daily "Midas" commentary at LeMetropoleCafe.com. Murphy concludes: "What a day -- very positive in some regards. Gold has clawed its way back to $1,400, proving once again that major dips are to be bought. Even pitiful silver has recovered so close to $15.
"The best news was the shares, which stood their ground like champs. The XAU lost only 0.87 to 83.18 and the HUI fell only 1.69 to 193.01.
"We know the Gold Cartel is going to throw the kitchen sink at the gold and silver markets. This is what they do. Gold is very much rebelling against the totalitarians. Should the gold price take out $1,440, it is very likely to change the cabal's game plan.
"Fingers crossed that they are in as much trouble as it appears, after all these revolting, manipulative years.
"Supporting the trouble the bums might be in is the share action of the HUI and how it has refused to close its distinguished gap several times.
"Never has a big down day looked better."
Your secretary/treasurer avoids making predictions, except for sometimes respecting Orwell's vision of the future: "A boot stamping on a human face -- forever." That's what GATA is working against.
Chris Powell, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org |
