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This week in precious metals was all about the US Treasury Bond auctions.
Would the Chinese and the Russians walk their recent negative talk? Would foreign buyers boycott the offering, holding out for higher rates? And would Ben Bernanke have to step in as a buyer of last resort?
Well, we got our answer…
http://online.wsj.com/article/BT-CO-20090611-714319.html
NEW YORK [...]

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Given all the noise and rumors about new, additional IMF gold sales yesterday, I thought it would be a good time to take an updated look at trading charts for both Gold and the HUI Gold Bugs Index.
For an update on the final communique of the G-20 and the IMF, please see my preceding [...]

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The IMF has just announced their final communique, which will inject an extra $1 trillion dollars into the global economy, bringing the total of already announced and committed global stimulus, to $5 trillion dollars.
The $1 trillion extra which Mr Brown said would “be made available to the world economy” includes an extra $500 billion in [...]

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As a “generational perfect storm” brews on the horizon for gold & gold stocks, the HUI Gold Bugs Index is basing within a rather defined trading range.
After doubling off the October and November lows, the HUI gold stock index has now found support at earlier resistance levels near HUI 248, and resistance from consistent profit [...]

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Gold is still comfortably within it’s bullish uptrend, and technically you have to stay long “of gold” (as Dennis Gartman would say) until it breaks support.
Fundamentally, gold is trading as the last remaining sound currency in a world of un-sound central banking. And gold is up an astounding 22% to 42% against the major [...]

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