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Heavy overnight turnover and heavy selling has energized and amplified more deconstructive deflationists (I just can't resist an alliterative gambit) who are stomping at the savoy as the USD powers ahead against the gelded euro creating dire gold chart analysis of bearish topping wedges. Enough please and this morning of Orthodox XMAS I don't want to distract anyone from intensely focusing on the NFP and by the way I shall be pleased to sell you 150 if you want to go head-to-head. GSR is slightly higher at ~47.65. Open interest Wednesday dropped ~10,000 contracts so clearly a few longs were pitching positions and while dealing in gold is not my day job, I was queried by more stricken longs (including a son) than I have heard from in some time. RSI is just about to break down through 40.00 so refresh yourself with a chart and a Twain-like recognition that notices of impeding demise are sometimes premature.
