Watch for a RS to form on the rebound, skewed but scary...

Nice 'Pitchfork' tag to call the low, along with the 200/Week average...

This was a 151 mt decline (31%) year-over-year (y.o.y.).

Kiddynamite should have pointed out the fact there is a settlement agreement to using GLD instead of talking 'trot' by saying it was false.

Zero Hedge reports that U.S. government dept, aka,JPMorganChase & Co.
- rescued the New York Commodities Exchange gold contract
- from a default... this week
- with a massive reclassification of metal from the "eligible" to "registered" category of warehoused metal.

- Boosting Registered Gold ....By 78%.... Overnight !!

Http://www.zerohedge.com/news/2015-08-06/jpmorgan-helps-comex-avoid-gold-depletion-concerns-boosts-registered-gold-78-overnig

Anyway...The delivery is not the important part of the manipulation, a delivery is a very rare event in terms of the number of contracts traded. It is the ability to go short silver using money as the deposit rather than silver that is the problem, this is what allows volumes on the COMEX to exceed in size of the physical market.

The rolling humongous short selling - is the big problem
- the GLD just adds to it - use of the GLD is actually two fold

1- use of the shares - doesn't directly/immediately affect the physical demand at the time
2- they can borrow/short sell/use hypothecated GLD shares - which can flywheel forward - having to come up with the phyzz
(eg until after an orchestrated take down - when they can pick up the real stuff and settle up... all the while not having caused a demand spike at any point)

That's not adding in... that GLD - probably has - no true (in place) physical backing
(A rob, steal, borrow - phyzz as & when needed op ;-/

Been away and just noticed your post.

You realise that is a few years old yes?

He states...'

'and no, GLD shares cannot be used to settle COMEX contracts. that’s false. I’ve already debunked that nonsense:'

http://kiddynamitesworld.com/no-gld-shares-may-not-be-used-to-settle-comex-contracts/”

He says in the above article...'As a public service to metal-heads who continue to be misinformed by not only by those writing blogs, but also by others cluttering blog comments sections with more misinformation confidently stated as fact, I want to take a few minutes out of my Friday afternoon to correct a common misconception that metals-noobs may come across: the myth that if you have a COMEX Gold contract, the rules allow the short on the other side of the contract to deliver you GLD shares instead of physical gold.  That is false.  Factually erroneous.'

Sorry - But he is talking trot. CFTC Para 1...' GLD Shares - CAN - be used.... to settle... comex contracts'

Http://www.cftc.gov/files/submissions/rules/selfcertifications/2005/rul021805nymex001.pdf

More politely - A "Kid" - who hasn't yet grasped "People with stones & Glass Houses" should - check facts - and - know what they are talking about
- before... throwing stones at... those who do.... "Know.... what they are talking about"  LOL/

Ditto - tho prices are at a premium to spot...

Ditto...

Almost there I feel as I hear the call..... Easing in, and am happy to buy these and go off on my bike around the world for three years ;))

http://time.com/3981478/iran-heatwave-bandar-mahsahr/

http://www.rt.com/usa/311304-new-windows-privacy-issues/

While everyone's eye is on the Bullish Inv 'H&S' there seems to be a sneaky skewed Bearish 'H&S' that may play out if the 50/DMA is resistance...

Again the 10/DMA as seen on the first chart (Red Dotted) needs to be dealt a death blow...

Looking for a close above the demarcation line, and a Bullish confirmation of the wekly 'Hammer' would be good. a start is a breakout of the 10DMA depicted by the red dotted average on the first chart...

Wage Growth Shock provides the impetus for n Inv 'H&S' and channel breakout ...

http://investmentresearchdynamics.com/gld-continues-to-be-looted-while-the-public-loads-up-with-physical/

Accumulating...Physical.

Accumulating...

Struggling at the 50-62% Fibs Retrace (Yellow). While Gold attempts to bounce from the low pivot after the 'Hammer' An Inv 'H&S' perhaps...