On The 3-Week Anniversary Of The Precious Metals Bear Raid

While the memories of the gold and silver price collapse of April 12/15 are still strong in the cognitively biased members of the business media, few have managed to notice that the last 3 weeks have seen the best run in 21 months for Gold and a complete retracement of the Monday drop (and Fib 61.8% retracement of the entire Fri/Mon drop). It appears the paper-to-physical 'great rotation' continues to gain momentum...

and the paper gold unwind continues..

as the post-Lehman paper gold horde 'rotates'

Charts: Bloomberg