From jsmineset.com: Comments by Chris Martenson of Real Prosperity

Turning to gold, Martenson writes:

"I don't really think that gold's current market price or recent behavior have anything useful to do with gold's value here. ... [S]ome entity has been selling literally thousands and thousands of gold contracts into the thinly traded overnight markets so rapidly that we have to use millisecond charting to see it for what it is. Again, there is no other legitimate explanation for this activity of which I am aware besides having an intent of pushing the price down.

"Whether there is some motivation for this activity besides 'making money,' I remain convinced that the gold market, like many others, is no longer sending useful price signals. Instead it is telling us that some entity has found it useful to sell thousands of gold contracts all at once.

"The interesting part of this story is that this has been the most sustained, intensive, and yet ineffective gold selling that I have yet seen. In the past, such bear raids, as they are called, would have resulted in a sharply lower gold price. Right now that has not yet really happened.

"I am wondering if a big up move is not right around the corner for gold. I can tell you that if even one fourth of the recent quantitative easing effort was announced five years ago, markets would have exploded and gold would have absolutely launched."