"Looks like David's concern about when gold might get hit was right on. Both of you do a fabulous job :)) I've attached a picture which I think says most of it about today [Ed. yesterday] in the US markets.

"The Indiana corn belt was pretty reasonable at night, temperature wise, with lows in the lower to mid 70's most nights where I was. Lots of moisture in the ground helps that a lot.

"I'm really looking forward to your West Coast seminar :))"

Eoin Treacy's view Thank you for this update and I am also eagerly looking forward to my trip to the USA's West Coast next April. Gold posted a downside key reversal yesterday but has not followed through today. In fact today's rally has almost countermanded yesterday's decline. Gold remains overbought following five consecutive weeks to the upside. Some consolidation of these gains is becoming increasingly likely. However, gold continues to act as a safe haven asset which helps support prices. Yesterday's decline was a warning shot but a clear downward dynamic held for more than a day or two would be required to suggest supply is regaining the upper hand beyond the very short term.