Glenn Beck is digging up the mystery of German Gold repatriation. With the reports that even small amount of the delivered Gold so far was melted beforehand we can be sure that there is no more original German Gold left. As we have discussed before, the Gold smashing down has started with Venezuela's request for Gold to be returned back and last year Gold's bloodbath was assured with Germany seeking for its Gold to be returned as well.
Huge miss in Jobs numbers with only 74k created vs estimated well north of 200k can not be just dismissed as a blip in the data. Peter Schiff discusses that FED can not really Taper now, there is no real recovery and FED does not have the exit strategy. Gold is waking up to these developments. What if this data is the real state of the economy? Once people will realise how wrong is the expectation about the recovery Gold will go straight up. COMEX data shows that Gold shorts will be in trouble very soon.
Junior miners are finding the bids these days. McEwen Mining and TNR Gold had a very good week and huge short position on McEwen Mining will be driving the price in case if Gold will confirm its break out next week.