at the end of an extraordinary week like this, who better to supply the commentary than bill murphy of gata:

From a technical standpoint today was as good as it gets AND it reveals how pathetic The Gold Cartel and the honchos behind the gold price suppression scheme are … make that desperate too.

Gold was bombed to $984.80 and silver was trashed to $15.82. If it were days of yesteryear that would have been "Jacks for Openers." Instead gold and silver turned right around with the aid of a weakening dollar. There is nothing more constructive technically than a minor pause after a huge rally for consolidation purposes … especially with so many doubters out there who can’t see gold above $1,000 per ounce. If you are bearish, this is the place to sell.

The dollar fell .28 to 78.17, which should have been enough of a catalyst to propel gold through $1,000. Nope … enter the arses, The Gold Cartel … who NEVER allow gold to do anything on the upside the day a US jobs report is released. Make that 50 out of the last 51 times Bill H.

Then the freaks went to Plan C to enhance their positions in the lightly traded Access Market after most traders left for a long holiday weekend. Gold is now down $4 after the Comex close and silver has been hit for a dime. Dave from Denver…

1:25 p.m. comex close. That is unreal. They drop gold $4 the second Comex floor trading closes. They don't even try to disguise it. be like walking into a bank on 5th avenue at lunch, in a business suit and no mask, and walking right up to the teller and pointing a gun and demanding money.

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For many years I have compared those who don’t get the gold rig and its ramifications to the "Flat Earthers" of hundreds of years ago. They couldn’t comprehend the earth was round. The same can be said of the mental midgets and lightweights in the gold/investment world who refuse to deal with the price management of the gold and silver markets. They are either dimwits, clueless, or disingenuous.

Well, yet another sign times have changed. The new buyers have rallied gold and silver late and they are both only down a fraction in the Access Market.

This run up to $1,000 gold is like no other for two key issues and is SO BULLISH…

*The Café Sentiment Indicator has suddenly moved up off the floor, but only to about a 3 out of a 1 to 10 range. The last time gold screamed like this it was a 9 and then a 10. The public is still not there … not even close.

*The open interest high in the past major gold run above $1,000 was around 593,000 contracts. Voila today…

The gold open interest rose sharply again, up 14,538 contracts to 425,292. That’s all you need to know about The Gold Cartel and its fight to survive. They are going all out to stop gold below $1,000. The silver open interest went up 4094 contracts to 112,394. Both are new recent highs.

Based on history, gold has room to put on another 200,000 to 300,000 new long contracts before it gets overdone. We are only scratching the surface here with sentiment still so soft.

The same is true in silver. Its old open interest high was around 150,000, so it has room for another 60,000 to 70,000 new longs to pile in before it gets overdone.