Yes, and that seems to make no sense at all – unless one considers big manipulation at a scale almost unfathomable to us mere mortals. Gold used to be a measure of what was on or just over the horizon. According to gold currently, we should be believing that nothing at all is coming – just business as usual, a continuing somewhat limping recovery, nothing major to worry about. If it was a strong recovery I’d expect to see gold heading down into triple digits, but that isn’t happening either – just a fairly narrow channel over 1100 but well below 1200.
I don’t trust what we’re being told at all. The less-public information simply does not compute with what we’re being told in the popular media. And the very large accumulation of gold by many countries, including the encouragement by the Chinese government for citizens to buy gold, seems to be yet another whispering voice that says somebody knows something most of us don’t, and certainly aren’t being told (except by actors that played presidents on TV that are now hawking gold).