$CDN Gold Weekly

Considering that the banks have become risk cartels determining what risk might be, rather than lenders, and that all pricing of asset classes will eventually be determined by model, the benchmark for pricing will likely become a standard weight of gold.

With that in mind, this week's $CDN gold price is showing a very rare candle after a lengthy consolidation, much like the $US gold price. You have a black hammer, a long tailed doji, which seems to form only at the beggining of rallies.

The $CDN gold price is also above $1600/oz.

http://www.kitco.com/gold_currency/index.html?currency=CAD

Should be an interesting week overall, options expiry in the precious metals comes on Tuesday, while Canadian markets are closed Monday. Probably traders will be settling up their short sales prior to options expiry, and that new entrants will be taking advantage of the coming rally.

source: http://www.flickr.com/photos/11747277@N07/7234037458/sizes/l/in/photostream/

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-F6