As we move into the second quarter of 2016, It is becoming increasingly clear that we are experiencing a tale of two gold markets. The one that ended December, 2015 and the one that began January, 2016 – the choppy market action visible on the near term gold chart and the trap door drops on the longer term chart.* Clearly, there was no opposition to the shorts in the paper market prior to January. Gold for the big banks and trading houses was a one-way trade.