Mexus Gold US (MXSG)

[TMLonggun]

Any comments on gold's movement today? I thought for sure we would see a big down day Friday to help crush the Swiss vote, followed by a defeat of the initiative, then a strong down on Sunday followed by a bloodbath for gold and miners this week. Yet gold is up $50 today, reversing the decline. Silver was at $14.75 and is now almost $17 in the same time frame. The trading seems somewhat nonsensical. Common sense would dictate Friday should have been an up day as people speculated that the initiative might pass and affect short term supplies. But given the smear campaign and legitimate conspiracy that exists to suppress gold prices, the likelihood of a big down move on the last trading day before the vote was statistically very high. Yet after the initiatives defeat gold goes straight down and yet now goes straight up?

It is even stranger than that though... IMO both a yes and a no vote are bullish for gold. A yes would have meant a years worth of gold supply is sucked up a single small country in around 5 years while a no vote is an affirmation of Keynesian economics and the CB's "right" to print currency in unlimited amounts to defend their peg against the Euro. Those 23% that voted yes, and others, will take as a cue to keep stacking because the long term narrative for investing in gold is reaffirmed.

Some JV news would be ideal on a strong up week for gold and I would expect some kind of official update soon. We'll just have to wait and see.