Overnight Asia finally brought an end to the NY cartel $1125 gold cap that has been enforced over the past few days. Of course, da boyz will not be pleased with this development so they will most likely attempt to bring the gold price down into their comfort zone again.

We also have the FOMC meeting this afternoon, which always brings above average activity. As usual, we just might see an initial spike in gold followed by an even stronger reactive take-down. The swings might be greater than normal today because the markets are relatively thin, which invites more extreme manipulation.

Should be fun - VHF