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Gold Closes $30.90 Higher Today... ($1084.90).Today's Gold session provided a phenomenal rally fueled by the news that the IMF (International Monetary Fund) had sold India's Reserve Bank 200 metric tons of Gold Bullion at a cost of $6.7 Billion (USD). The IMF intends to sell 403 metric tons of Gold to increase its CASH supplies enabling them to lend money to developing economies at a reduced rate. The International Monetary Fund is an organization of 186 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. This transaction prompted a buying frenzy of mammoth proportions. The (COMEX) day session experienced a range of $27.20 as well as establishing an ALL-TIME HIGH... ($1085.20...December contract). The IMF news started the "running of the Bulls" yielding to the execution of "BUY STOP-LOSS Orders "which ignited a whole new wave of technical buyers.China figures to absorb the reaming IMF Gold Bullion to solidify their reserves. We are still LONG February 1080 / 1100 BULL CALL SPREADS.
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