Looks like the sellers were ganging up on gold today as it attempted to push higher past the $1700 mark. This whole decline so far smells of a coordinated effort of price suppression. Add to the mix in the past week or so comments by Paul Van Eden that gold is worth only about $900 or so and you see the growing increasing negative sponsorship being supplied by the media with its effects showing in the marketplace. It certainly appears someone or some group have in mind a particular price for the metal.

Maybe China is temporarily helping it lower as Stephen Leeb mentioned the county is coming out with its first gold ETF soon and might want to get it started out of the gate as low as possible. As we know China has encouraged its people to invest in gold and silver. It seems someone believes that a local ETF advancing right from start-up might be a bigger motivator for them to purchase the metals.

All anyone can do is guess for these miscreants lurk in the shadows behind darkened closed curtains. The Aden sisters continue to believe that once this move has exhausted itself it will be clear sailing ahead.