amb005
Gold wasn't "smashed" last night, it was an attempt by the "Plunge Protection Team" (PPT) to shore-up the Greenback and US stockmarket. They can't afford for gold to appear as a safe haven right now; uncertainty must prevail in the gold price, or the US is screwed. When the oil bubble pops at around $US148 they want that money rushing into stocks, NOT gold; but I think they're out of luck :-)
Gold actually made a bullish bounce off the upper border of its falling wedge at $US885 - a good sign.
The PPT will probably have another go tonight at the Nymex open, but they will fail in my opinion. Once gold breaks above $US910 then we are on our way.
swimming against the tide, page-7
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