While we close out trading for this week, there are many questions, such as with all the current uncertainty, why there isn't any considerable rally in the Gold market. Even Fridays price action has just taken the market back to the $1350 price level, nonetheless beneath the $1362 figure established earlier.
The answer is: there has been extensive short covering in the Gold and Silver markets. The bullion banks and commercials covered an enormous quantity of short positions in the precious metal market.