I am not sure the half full glass is the best way to look at things at the moment. The gold chart says it all really. Given it bounce off the previous support on Monday and no follow through tells me its the gold bears covering. When that was done it was triggered by yesterday's Bernanke speech of confusion. A fall in Assie may only be a temporary relief but I am expecting the bears will again attack the gold support and have anpother massive leg down. If igold keeps dropping, do they have enough reserve to 'tie them over' or are they looking at a combination of mine closure and CR. That would be a double whammy.
SLR Price at posting:
69.5¢ Sentiment: None Disclosure: Not Held