Gold is now down $100 on the day, and looking to test $1600.
This will stop when the paper shorts have covered every last contract they can possibly squeeze out of the longs.
Where exactly that is, heck if I know.
Options expire early next week, so this could continue Monday and Tuesday.
MARKET IS OPEN (Will close in 3 hrs. 52 mins.) | ||||||||||
Metals | Date | Ask | Change | Low | High | |||||
GOLD | 09/23/2011 | 1635.10 | -102.10 | -5.88% | 1628.60 | 1672.10 | ||||
SILVER | 09/23/2011 | 30.26 | -5.37 | -15.34% | 30.26 | 32.67 |