This is my opinion. I cannot say I can back it up with facts.

Pardon me for being cynical but I wouldn't go near the Comex for trading purposes. To make a purchase and take delivery yes; but that is beyond my means at this time.

I believe the Comex is dominated by the PTB (Powers that be) and their single mission in life is to keep the price of gold down.

They have access to all the positions and stops. They allow people to believe the market has turned (which everyone knows it would have apart from their actions) and accumulate some long positions and a bit higher price. The PTB run their computer program which accounts for number of trades, placement of stops etc., pick an opportune time when there are the fewest buyers and sell into the market and run everyone's stops and annihilate the price. They close out some of their shorts (at a profit) and try to get more buyers to come in establishing a few long positions themselves. Others come in (sheep) and the price starts to rise. At the appropriate moment in time (which they determine and know with certainty having all the facts before them) they sell their longs with which they initiated buying (at a profit) AND SELL EVERYBODY OUT OF THE MARKET AGAIN AND AGAIN AND AGAIN. Making a profit on each and every trade and making gold investment a horrible and losing experience. Anyone who participate in this market with margin gets slaughtered.

Do I know this is what is taking place. NO! But it is consistent with the price on the Comex, the trading action on the Comex, and the differential between physical and paper gold.

The entire world-wide system of things is so corrupt that nothing works as it should anymore. There will be a finale to all this.

P.