Also, on another topic, don't forget that we have to wait for the conclusion next Thursday, the 20th, I believe, for the conclusion of that wonderful old game called "Screwing the Option Holder for Fun and Profit." From my count, there are over 80000 gold December call options at strike prices 800 to 1200 with at least 24000 sitting on the top at strike 1200. Maybe some Saudi prince has the 1200s which might explain the huge Saudi 2+ billion dollar purchase of gold just the other day. As if to maybe goose the price a little? Not likely with the cartel in control of the monopoly board.

A poster at GATA stated the other day that "at the current gold price of $ 710-720) out of a total of some 173.000 call options, a staggering 170.000 (=more than 98%), will be out-of-the-money! And if the price would drop to $ 700, only a mere 1000 calls would remain profitable."

Those are humongous out-of-the-money numbers, and a bunch of guys out there must be fuming at the shenanigans. I wonder if they'll simply sit back and take the shaft, or....... Stay tuned.

It would certainly be wonderful if this weekend, the G20 comes out with something akin to what Edelson had to say in the piece I posted the other day and gold explodes enough that the cartel takes gas big time and gets thoroughly whupped. Wishful thinking, but one of these days.....