I thought last week when Citi recommended gold prices going much higher that something was up. Looks like the law of the jungle will prevail amongst banks with little if any sales going forward(above the agreements).

This is in the backdrop of a bailout plan that is supposed to give banks confidence to loan to each other to free up credit for business. What a farce.

Slim chance they will ease credit if they are concerned enough to hold gold reserves. If LIBOR rates or TED spreads do not come down this week, we could see another $100 day in gold.

Our time has come.

http://www.forbes.com/afxnewslimited...

http://www.fxstreet.com/news/forex-n...

SilverNut