Gold - $759.80 up $17.80 - Silver $10.74 up 21 cents
Gold Pops, Financial Tensions Grow, PM Shares Soar ... You Want Proof?
"With help from the SEC and the Commodity Futures Trading Commission, Paulson and Bernanke sprang the trap", which Don Coxe termed the 'July 13th Massacre.'
GO GATA!
What a week! Gold popped back from an extremely oversold condition, aided by a weaker dollar which closed at 78.97, down .95. 
The very oversold euro roared back too, climbing .02 to 1.4209. Word is Russia bought $4 billion worth of euros.
Bizarre silver struggled to hold lesser gains. More stories surfaced about the extreme silver shortage (see more below), yet based on the Comex price you would think people couldn’t give silver away.
There is truly a disconnect between the cash price and the Comex paper price. From a GATA follower...
You want proof??
"To be impatient for change is to tempt
the fates."
"Always remember when you dine
with the devil. Always bring a long spoon."
I have to admit Bill I have seen a lot in my time but if this information I am about to provide you doesn't prove once and for all that these markets are being totally manipulated and distorted.
Then there will be nothing left to prove anymore about anything.
I have been recycling for over 10 years now and I have been focused in developing a service in the silver recovery business.
So far it's been very successful and I had been preparing an order for recovery just before they hit the silver market.
I was sitting on 29 skids @ 28,000 lbs
of fiche which equates to aprox. 385 lbs
of pure silver considering my assay on
this grade of fiche was very high.
1.4 grams per 1000 grams of micro fiche.
It's around 4 dollars per lb or 6000 ounces
of silver.
Now, I won't mention names but I was unable to setup a bullion account with this company because they don't setup accounts anymore so I can't hedge the market.
The day you deliver. You get paid spot on the Comex.
So I simply parked my product and waited. Now talk about a squeeze play.
Would you believe that this company called me today @ 10.50 silver and quoted me 16.00 per ounce with room to negotiate???
Now is that a disconnect or what???
Have a great day.
Will
Based on that and other anecdotal stories, the refiners are making fortunes if they are only paying the Comex spot price to suppliers because they can dump it at much higher prices. 
The gold open interest went up 4,327 contracts to 382,411 … and yet again the silver OI went the other way as it lost 925 contracts to 15,649.
The gold COT report showed the commercials increasing longs by around 13,000 contracts, with the specs reducing longs by that amount.
What is so striking is the growing commotion over major US financial firms.
Three of them … Lehman Brothers, Washington Mutual, and AIG … are on the ropes. As we all know, these are significant US financial institutions. Normally, there would be a great deal more consternation as far as our stock market is concerned. What about the old adage "The market hates uncertainty?" However, following the Bear Stearns Fed engineered takeover and the constant market ramps by the PPT, the general investing public, and even many on Planet Wall Street, is very sanguine.
And YES this is what the "moral hazard" talk is all about. There is a feeling out there that the US Government won’t allow disasters which might affect "the system" in any way.
Yesterday, the DOW came back from a 100 dip early to fly at the close, finishing up 164, despite worsening news. The DOW was in the tank again this morning, yet kept coming back.
At the same time, The Gold Cartel remains all over gold in order to diminish any serious excitement.
Gold came right out of the box early, rising to nearly $760, then was nailed. 
After spending most of the entire trading session at $755, despite a soaring euro, gold drifted up back to its early highs, but did not punch through.
James Mc summarizes what the deal was today for gold and the market … and what is surely coming OUR way down the pike…
2% limit, go figure