Gold This Morning: Peace in Our Time --Jon

Heavy overnight trade robustly reached Friday's highs early and then literally detumefied dropping about 20 bucks. The Friday rally was well-advertised as a flight for safety on the media, maybe memories of Madame Benali in Tunisia crab stepping across the tarmac dragging recycled Whole Food bags full of gold provoked CNBC. This morning we are back to dealing with facts. The COT numbers on Friday continued the trend of the past four weeks with specs lightening up and commercials buying. The GSR is relatively unchanged ~47.90 and open interest as of last Thursday is ~488,000 contracts; RSI remains under 40. These are the facts, deal with them and when you see the guy coming off the plane waving a piece of paper remember that Churchill remarked that Britain had just suffered its worst military defeat without a shot being fired.  http://www.biiwii.blogspot.com