Traders have been deserting the COMEX in droves. They don't seem to be interested in going long on the COMEX anymore, which I gather is what the cartel has been trying to accomplish for quite some time. The cartel beats them half to death enough times and they give up. Cartel loves it and gets free rein over the price. With open interest shrinking daily when just the opposite should be occuring under these circumstances, the cartel can pummel the prices knowing full well that there's no one there in volume to take the other side. As I've read elsewhere, traders are tired of getting blind sided by the cartel, so they opt to go to the ETF's or elsewhere. Just look at today.

Until we get a different, visible pricing mechanism for PMs away from the COMEX and more reality based, or until something happens to bring the traders back, I doubt we will see much of anything different in the way gold and silver get mauled as the cartel pleases. Either that or the meeting this weekend (G7, G20?) might reveal a plan affecting the precious metals somehow and now known to the cartel.

And then again, perhaps one day soon, the cartel will reverse positions and just the opposite might occur. Seems that no matter what you dream up, it could happen nowadays.

One of the skillion things I don't understand is why Golden has gone to the trouble of covering their shorts on the TOCOM over these past many weeks and gone long. Instead of being in the loop, I thought they were the loop.