Durban went up 33cents today with an 8$ rise in gold.At this rate,5.5$us would be hard to reach.Why all the exuberance is difficult to understand ,unless one owns bullion. If the pog should tank for any reason,Durban could go right back to 75cents.Sh-t happens.I own a quarter of a million$ of this stuff,and it looks to me like we are in somewhat of a bear to stale market in gold & silver stocks.Its difficult to get exuberant under these conditions ,unless something changes like investors buying Drooy.With great profits like we just saw,geopolitical conditions such as presently exist, and bull market in gold,what else is necessary. As for the shorts, we were all told that the squeeze would take place at 320,later it was increased to 330,& then increased to 340,350,360 & so on.Now we here 400.When we reach 400,the gurus will tell us that the big sqeeeze will take place at 420 & jpm derivatives will implode & Hamilton's Durban rocket will take off.What a crock of bs. Gold investor beware,be prudent& make your own intelligent decisions ,because its a crapshoot.
Grandecool you sound very discouraged. Understandably. The short covering has to happen though, it does. My idea, perhaps cultivated by reading Sinclair and others, is that, yeah, the shorts are getting squeezed, but I think the put off in covering is due to, in part, they think gold will drop at the start of war. To some degree it migh be volitle at that point because of all the money in speculation, but, they're wrong as many other factors are at play this time, including Korea.