The reason why gold just did an upward spike move of the type not seen since the summer of 2011, when it exploded higher by $20 in seconds, is clear - as we noted yesterday [2], JPM is now actively buying up gold in the market to meet delivery demands. That, and countless stops getting hit, helps. But the most important factor: Paulson, Soros et al finally got out of the yellow metal. That meant there is only upside as the latent selling overhand is gone. As for silver: why not...
[3]
and Silver has broken the 100DMA...
[4]
Charts: Bloomberg