"Here is a closer look at the gold bottom that everyone and their brother was rushing to call last week, so they could claim prescience.
As I have said several times over the last several weeks, every time that the COMEX dealer inventory has fallen to record lows like this, it has marked an intermediate trend change that in retrospect proved to be significant.
The drawing down of physical inventory available for delivery is one of the surest signs of a price manipulation gone too far.
And for the first time in this waterfall decline since the German people had the temerity to ask for the return of their national gold from the NY Fed, we see a legitimate chart formation that could mark a significant bottom in price..."
at http://jessescrossroadscafe.blogspot.com/2013/07/developing-gold-bottom-closer-look.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29
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