gold bloodbath ** hui falls 8% **

Gold was absolutely crunched last night.

Gold indices like the HUI fell 8%.

There is blood on the floor and panic that the gold bull run is now over. There is terror at the thought that gold is heading back to US$500, US$450 and then US$400.

Maybe even lower.

Investors who dabbled in the gold market for the first time in the last few weeks have been hit hard. Many are obviously selling - at any price - vowing not to return.

There is blood on the floor. There is panic.