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  • Flash crash in gold? The yellow metal dives $20 in the space of a few trades, now -1.6% to $1,716/oz. [View news story]
    Jim Wyckoff on the site has a good article summarizing what he saw happening: Technical selling with stop loss orders being triggered. Sell orders over 7500 futures contracts further contributed to the drop (worth 100 ounces each). On CNBC I heard about that and a guy from the floor of the CME said he remains bullish on gold. - I am not a conspiracy theorist, and believe that there are simply a bunch of folks out there that "play" the markets, equities, commodities, you name it. They find ways to make prices move, and why would they skip opportunities in gold if they can make money off of the volatility? I am not one of them and keep getting cold feet. Especially my miners keep getting beat up before I can separate from them and look at reality: They up for PM's is not a straight one, but all the fundamentals for higher PM prices apparently are getting stronger and stronger.
    Nov 29, 2012. 02:30 AM | Likes Like |Link to Comment
  • Gold bulls no longer have heavy negative sentiment on the metal at their back, writes Mark Hulbert, as his Gold Newsletter Sentiment Index (HGNSI) has risen to 54% from -14.8% in late July, with the bulk of the gain coming in just the last 2 weeks. [View news story]
    Thanks, Tom, for that great post on Barrick. I own ABX and feel tempted to sell after reading your post.
    Sep 12, 2012. 04:39 AM | Likes Like |Link to Comment
  • More on gold and sentiment: Another measure is the CFTC's Commitment of Traders report. By that gauge, traders are clearly huddled on the long side of the boat, but not to an extreme level. (Previous: Hulbert's index[View news story]
    I recently saw a graph that showed how much the USD has depreciated over the past 20 years, and how much gold has appreciated. When you look at it, and consider the intrinsic value of a piece of paper (USD), it doesn't take much brainpower to assess what holds more value :-).
    Sep 12, 2012. 04:17 AM | Likes Like |Link to Comment