We are all very confused about these PM markets. My Gann man whom I subscribe to,and currently has no recommended is also confused. This fall in both gold and the HUI has him confounded as it does not fit any precedents in his analysis. Probably like all of us, his view of gold is based on the 1675 area. HIs analysis of previous rallies and falls is unique. One interesting comment he made that someone out there is continuously selling gold.my only explanation is that it is a concerted effort by the BIS to rid itself of its swap book.
Ann: Apollo Drilling Following Silver Intersection, page-810
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