The TradingEdge

[rotor1]

Metals

This sums up the situation better than I can put it

"The case for gold is that nothing has changed and if anything, policy has been pushed further out on a limb. Meanwhile, it appears that some powerful forces have begun a campaign, which has included Ben Bernanke's recent lectures and JPM's 'Head of Global Commodities' Blythe Masters protesting a bit too much on CNBC about JPM silver manipulation being speculated upon in the blogosphere. Famously, it has also included Warren Buffett deciding now would be a good time to ruminate about gold's lack of utility and thus, value. And then there is the big one, Dennis Gartman being cited in Forbes with Gold's Decade-Long Bull Run Is Dead, Gartman Says."

The same can be said for the stocks, people believe this "centrally managed chit" too easy with unlimited funds to exert pressure on what is afterall a small sector.

The current pop is probably largely due to recent news out of india and I believe London is closed today.