A New 8-Year High Close for Gold
Midas Musings
by Bill Murphy (AKA Midas), Chairman, Gold Anti-Trust Action Committee. December 12, 2003

December 12 – Gold $409.20 up $5.10 - Silver $5.59 up 4 cents

A New 8-Year High Close For Gold

Great works are performed not by strength, but by perseverance. He (or she) that walks, with vigor, three hours a day will pass, in seven years, a space equal to the circumference of the globe. ..Samuel Johnson

GO GATA!

Right after gold closed yesterday, it popped in the Access Market trading and stayed firm all evening long. We came in $3 higher in The States when cabal forces did what they could to take gold lower, as always. The best they could do was to bring it down to $1 higher on the session. The STALKER and friends were waiting for them and it was up hill from there on in. For the first time in recent memory, gold has left a small gap. In another rarity, spot gold closed on its HIGH TICK.

Nonetheless, The Gold Cartel invoked its $6 rule for the umpteenth time. Gold was firm all day long when Secretary Snow muttered nothings about the dollar. Taking it as a signal the US would not intervene to stop an orderly dollar drop, currency traders sold the dollar:

NEW YORK, Dec 12 (Reuters) - The euro rose to new record highs at $1.2300 against the dollar on Friday after U.S. Treasury Secretary John Snow was reported to have said the dollar's decline had been orderly.

© 2003 Bill Murphy

Contact Information

Bill Murphy | Chairmen & Co-founder, GATA