TJ-
Since I think that the pressure to the upside continues, I think the bullion banks clearly want gold to move. Whether they were making so much money on hedges to begin with, I simply don't know (not privy to that world).
One interesting point to note here though. This morning's Journal ran an article stating that investors were piling back into stock mutual funds, which is truly scary considering PEs, etc. But I guess some things never change. As more sheeple jump into the market at these levels, I think the chances for a market "incident" increase dramatically.
However, the real point is this--with investors awakening, at least some of them will discover that there is a bull market beginning in gold and gold shares. The demand will, of course, drive the price up.
schloss
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