Just Can't Keep Gold Down

Despite all the gimmicks by the Federal Reserve gold continues its march higher. For the last two nights after market when volume is non-existent the IMF on Wednesday and The Federal Reserve on Thursday came out uncharacteristically and against procedures and said anti-gold things. IMF said it was selling gold as if it was news and they're not even really selling it. It is their usual bluff which will be called by India or China or some other central bank. Then the Fed came out after markets on Thursday to increase the discount rate, which is normally announced on a pre-announced date along with changes to the Fed Funds Rate during market hours at 2:15PM. In both occasions the announcements were followed by some suspicious selling. Sure, one could argue that the announcements could cause people to sell gold, but when the price did not go down enough you saw "efforts" to bring it down in the after market through strangely big trades that did not pay any attention to the price declines - the kind of that a prudent person would do little bit at a time not to drop the price. Yet this "someone" looked as if he wanted to bring the price down - Bernanke, you hearing this? This was similar in nature to how "someone" regularly sells roughly 5-7% of global annual production in less than a minute with no regard to price. Let me correct that: paying regard to price to make sure it goes down. That size can only be one place. 

Anyways, can you imagine where gold would have been today if it were not for the last two nights' $20 drop each. It is still up despite those price manipulations and the announcements. If this does not tell you something about the level of demand, what will???