Norcini also mentioned that the XAU had to break 200 (along with the HUI breaking 520). So far the XAU did barely break 200.

I know that this hedge fund action is presently very frustrating but sooner or later they will realise that there is more money to made on the long side and that should trigger the avalanche.

Sinclair is quit convinced that this is a no brainer.

Later

PS funny how most post today came in after 2:00 PM. I guess lots of people were watching the ryder cup.