The 12 April 2013 MS made a new multi-year MS low. The down trend from early October is still very much in tact as the 21 December 2012 and 15 March 2013 up ticks both failed to end this down trend.
The 12 April 2013 sell-off in price of gold, off approximately $80 in New York and London, in primarily a paper market stands in sharp contrast to the Friday up $1 close at the Shanghai Gold Exchange -- Shanghai has delivered more gold year to date than the world's gold producers produced.
At the end of March, Dutch ABN halted physical gold delivery:
Based on a letter to clients over the weekend, it appears Dutch megabank ABN Amro is changing its precious metals custodian rules and "will no longer allow physical delivery." Have no fear, they reassuringly add, your account will be settled at the bid or offer price in the 'market' and "you need to do nothing" as "we have your investments in precious metals." Zero Hedge guest post (with image of the ABN-AMRO letter to clients).
An 10 April 2013 story Comex Gold Inventories Collapse By Largest Amount On Record - "Force Majeure" will be th ...
Over the last 90 days without any announcement, stocks of gold held at Comex warehouses plunged by the largest figure ever on record during a single quarter since eligible record keeping began in 2001 (roughly the beginning of the bull market).
The Kitco Gold Survey of market participants completed 12 April 2013 has 48% of the participants bullish and 48% bearish and 5% neutral. Taking the Kitco survey results as a contrary indicator suggests next week is more likely to be neutral, neither failing significantly nor rising significantly.