Friday, September 5, 2008
4:48AM PDST GOOD MORNING GOLD BUGS!
Watched the McCain speech and the run up to it last night.
After Watching Sarah Palin's little movie that they didn't show last night, probably because it wasn't ready in time, and then watching the McCain movie before his speech, when the lights went out just before he came out, I was sure they had a erected a long pool of water for him to walk on.
The Repubs fell back on their old time-tested tricks of drowning us in visual propaganda with their giant electronic waving flags, etc.
It was nice to see a few protesters managed to sneak in and get rousted by the young college age heavies planted in the audience...so much for protest in this country!
Gold managed to slowly rise yesterday afternoon after what appears to be the regular sell off at 4:15pm pdst when CBOT gold re-opens.
It sold off to 79480 and then steadily rose until 11:15pm pdst when it gradually pulled back four dollars and then rallied to a higher point at 80410 at midnight when the golden pumpkin burst and gold sold off rather rapidly until 1:35am pdst and has gone up and down between 796 and 800 twice until the sudden burst at 4:35am pdst which pulled back a bit and is now rising a bit higher to 80280 at this moment.
Will it sell off before the open...PROBABLY!
TODAY'S REPORTS:
Nonfarm payrolls
Unemployment rate
Average hourly earnings
The dollar is jacked up so high now on nothing but spin and manipulation, that when it finally falls, it is going to come down like and anvil in a vacuum.
That's when gold will explode and probably never come down again.
gold is still rising as I publish this.