Jason Bush in Forbes suggests that Russia's recovery may be buoyant: 'while the Russian government is still cautiously forecasting 2 percent GDP growth in 2010, many independent economists are already predicting growth of as much as 5 percent next year'.  Oleg Deripaska's heavily-indebted RusAl has made a deal to sell 1.68 million tons of aluminum to Chinese state corporation Norinco over seven years.  Renault COO Patrick Pelata has told the press that whilst the French car giant will support bankruptcy-skirting Avtovaz, the company will not supply the cash booster shot that the Russians allegedly want.  Corporate loan portfolios and overdue corporate loans fell slightly in September, as the ruble gained in value.  The Russian Gold Industrialists Union has announced that gold production rose 14.6% in the first nine months of 2009, year-on-year, an increase they attributed to a number ...

Pack a lunch and blow the froth off a cool one…as I’ve got three days of gold and silver market activities to talk about…and lots of fascinating reading as well.

Wednesday, November 26th

This was the last day for all parties to get their gold and silver contracts switched to the 2009 year…or they would have to stand for delivery on Friday. With the U.S. in holiday mode almost from the beginning of trading, the tiny rally at the Comex open was stepped on and never recovered. But it hardly mattered…as volume was virtually non-existent. Silver was the same. Call the day a big zero. However, the shares reacted otherwise. Even though gold was down ten bucks at the close of the equity markets, the HUI still managed a surprising 6% increase…the second day in a row that gold has been flat or down…and the HUI up. Hmmm!

Open interest on Tuesday showed

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