http://www.milesfranklin.com/uploads/TRReport26.pdf
This a long report (57 pages) which I am still in the midst of reading. It contains excellent documentation of the algorithmic methods used by the bullion cartel, explaining why it is done, how it is done, and when it is done. Read this and absorb it. Reread it until you understand that if you are going to play the paper gold market, either ETF's or mining equities, you have to understand the mindset of "the opposition" to keep from losing your shirt. Manipulation is REAL. Anyone who can persist in refuting that it exists is either blind, naive, or obdurately ignorant. There's no hope for such people. This post is for those who had doubts, but little proof. Your best bet is to buy physical and just outwait the cartel, the day will come when they can no longer suppress the prices. However, if you want to do both... amass physical AND play the paper markets with the intent of leveraging your gains for eventual purchase of more physical... then you need to understand the rules that THEY play by... or you will lose your shirt. Read this report and assimilate the knowledge. Oh, and btw... did I mention to... read this report?
Read this report until you have no further questions. If you won't do justice to your own education by studying a paper like this... then you have no business playing the paper markets component of precious metals.
Read this report.