***Precious Metals Investors Club***

[White Cobra]

Excuses This Time: China and Lower Unemployment

Okay all, in case you haven't noticed gold has fallen over $21 and ounce since the Friday opening and silver has fallen over $1 and ounce.

China's growth rate has been lowered and dummies are taking the unemployment rate hook line and sinker. Yes, the unemployment rate dropped like by a micro amount but most of the jobs are part-time. I am not sure if summer jobs ending is met about equally with holiday jobs or not. Maybe someone here knows the answer to this.

Either way, the CARTEL is hammering away. I guess they got too nervous with their huge shorts and had to do something.

I also think part of the reason may be concerns that Spain is going to ask for a bailout in today's key meeting. If they do, and the dollar gains strength, I hate to see how low the Cartel will take the PMs.

Something told me I should have sold some of my gold jewelry this past week. Oh well, now just to sit and wait.