sinbob,

Looks like the shorts may have finally run out of time. Used to be that $40-50 drops were common, but lately the only thing close to that occured last Friday, when volume was extremely low due to the US holiday. Seems like now every small drop is met with new buying, so that the price is constantly ratcheting up. I think the big differerence is buying by the Chinese, Indians, and central banks. Especially the Chinese, who are desperate to convert their dollars into something that will hold its value. I think all these groups are competing to pick up any gold available on even the slightest drops. The shorts will have to compete with them if they want to cover.

spiny