Gartman commented in his letter this morning that the Euro banks are contemplating gold sales, his quote, "These are only the vaguest of rumours and they cannot be substantiated, but they are there and they are weighing upon prices".

Whenever they trot out these kind of rumours to hit gold they are desperate due to physical demand issues, they spend a little physical to hit the price hard enough to get a big run down in gold but they have routinely failed with this old trick that used to work a few years back and the cartel gets less bang for their buck than they used too as the physical buyers have gotten to smart, want gold badly and have too much money. In the end they get a day or so down and lose physical making the move higher stronger when it happens.

The cartel knows they can get investors to puke PM stocks so make money assisting what they spend to take gold down and then buy the bottom in gold and making money going backup with fewer shorts, rinse and repeat until gold rips higher due to fundamentals they can't quite control, the controlled retreat strategy leaving a scorched earth retail and even institutional field in it's wake.