I just picked up this paragraph from Harvey Organ's Blog... read and heed! JP
We are constantly seeing algos (algorithm-driven computerized trading) play a big part in the New York trading. With the Dow plummeting, the bankers raid the gold and silver metals. When the Dow recovered so did the price of gold/silver. This manipulation has been the modus operandi for months now. Despite the precarious situation throughout the globe, the bankers will just not let go. We are now in the final stages of a massive global default as no doubt we will witness the Euro disintegrate as Germany will leave the zone due to no backers. As the euro plummets, then bourses around the world tumble as China and Russia will seek the precious metals to cause these metals to enter their shores. There is just not enough metal to sustain the globe. It is important for you to see the big picture. Many are playing the paper games trying to profit and then buy physical. The crooks can knock the paper price of gold and silver to any level they wish. They have destroyed the leverage game and they have destroyed the COMEX due to their criminal behaviour at MFGlobal. Now is the time to be strictly in the physical metals and totally ignore the crooked casino, the COMEX. I comment on the COMEX only to the extent that I know it will default once London England has been removed of all of its metals. Then the COMEX will default in a heartbeat. As far as the data is concerned over at the COMEX, I do not trust it in the same manner as the BLS reports its jobs numbers. However we must deal with what they give us.