Tomorrow we have the dreaded US jobs report. Normally it would be a no hoper day for gold and silver, but this late action might change the picture. It certainly picked up my spirits. If gold can take out $970 after the report and stay there for a while, we could see some FIREWORKS. So many successful tests of downside key support at $960 will not go unnoticed. It would appear our team has recruited some All-America type players to take on the bullies we have been fighting so long.

GATA BE IN IT TO WIN IT!

Yesterday I said “The Cartel tried hard again today. The bulls certainly didn’t blink. It was superb action because the break-out level of $960 was re-tested and it held…AND gold went higher in the after market. The Cartel didn’t blink but they are certainly rubbing their eyes tonight. The chance of a commercial signal failure just ratcheted up one more notch!”

Gold held the key $960 level for the regular COMEX session close. The sick and desperate puppies in the Gold Cartel went into action in the thinly traded aftermarket taking gold down to $955.4 but astonishingly some big buying showed up and took gold right back up to $964 and ABOVE the regular COMEX closing price. This is absolutely stunning and unprecedented. This is like Al Capone being ambushed, beaten up and left for dead by some boy scouts! This is extremely bad news for the Cartel. The ACCESS market is their own back yard and their raid failed! The bulls still haven’t blinked. The Cartel boyz will be furious and may well throw a tantrum and try again overnight and/or on the regular COMEX session tomorrow, but that might be ill-advised considering the enormous implications of their defeat today. If I were a Cartel groupie and short gold and depending on making profits by holding on to the coat tails of the commercials, I would have adrenaline running down my legs in large brown lumps about now! The chance of a commercial signal failure just ratcheted up yet one more notch! Make sure the champagne is chilled and stay tuned!
Cheers
Adrian