TND Market Report: Eric Dubin | It’s no surprise to see the Swiss “no” vote serve as a prop for a bear raid on thinly traded Sunday/Monday paper gold and silver trading. But beware, any attempt to judge market reaction at this stage of the game is risky. Between the painting of the tape by the cartel and the admittedly present but certainly less impactful and less numerous longs exiting a busted trade in the wake of the “no” vote (because the smart money was already “out” of the long trade), it would be wise to judge market reaction over the next 48 hours, not thinly traded Sunday/Monday trading. But don’t tell that to Bloomberg. Relaying mainstream analyst chatter typical in the wake of the “no” vote, Bloomberg reports: “Gold had received some support in the last couple of weeks” before the vote, Georgette Boele, an analyst at ABN Amro Bank NV in Amsterdam, said by phone.
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