We will see how this plays out because it is probably just part of the Wall Street script. Have faith that GS had their shorts well positioned just minutes before the SEC announcement. The hit on gold today is eerily reminiscent of the gold take-down in NY in March 2008 just after Bear Stearns collapsed. Remember that weekend, gold gaps up in Asian trading only to be ferociously attacked in NY trading only a few hours later and then over the next several days - again only in NY.

Here is Max Keiser's comments on this GS circus show: "This is a surprise. Was it the record bonuses? Or the Gods’ Work thing? Mind you, these are just civil charges to which they will merely pay a fine. Now, the question is, where is the Dept of Justice with the criminal charges? Or will the perp walks be rolled out the month before mid-term elections? And can JPMorgan be far behind? They were pushing Magnetar’s similarly constructed CDOs to institutional investors (ie your pension fund) far and wide."

Lastly, the respected George Ure had the following silver comments today - "Meantime I have been hearing rumors that there are investors who are still trying to take delivery of silver bars bought on the commodity exchanges from late winter who have not yet been able to take delivery and so far....only rumors, but rumors nevertheless, that warehouse numbers and deliveries don't exactly line up...if you follow what the implications of that area..."

A well scripted day - VHF