"Please make no mistake - we are all at war, this time it is The Currency War. Gold is The Ultimate Currency, which can not be produced at will - it can not be printed. In order to keep US Dollar at least in orderly decline market needs to be shaken from time to time. The magnitude of the shake up this time - Special Op Gold Wash Out - reminds us more like the use of a "nuclear option" - like the last resort for the FED to save the Cartel and Bullion Banks. Cartel was badly caught on the Short side of trade. More and more buyers in Gold are taking physical delivery - all paper gold short position was under very real threat of total annihilation in case if any Eventwould launch Gold from 1550 level Up last week.
Do not read here more than it is written, but timing of the Gold Crash was very handy. President Obama met on Thursday with CEOs of largest banks, on Friday Gold was under attack, Panic Selling has continued on Monday with Asian Markets Opened and then we had Boston. Who knew what and when, front-running all others as usual - we do not know - we are not on the FED's list of Early Warning Alert.
In the weeks to come two major things will define the destiny of the Gold Market - whether other Central Banks will continue the Attack to bail out FED and US Dollar as the only Safe Heaven and whether Buyers in the Real Physical Market of Gold will be stepping in using this opportunity.
Article below is from Adam Hamilton - one of the best technicians in the Gold market, his observations are confirming what we have seen these days."