Would have to agree with you hotwolf. I have seen it happen more often then not the price of gold being sold off steeply from about 2am to 9:00am NY time, just prior to the the stock exchange comming on-line. It's an all to common occurrence, gold vs US$. With so many interests holding the currency & not wanting to see it's "value", (sorry meant to say valueless currency), lose value. Hmmm, makes sense to those holding the currency. Better go convert it into Gold imho, then that of course would lead to a catastrophic caos for the world's "reserve currency", not to mention hyperinflation in the US, and drastic devaluation in countries holding US treasuries & bonds. What a conflict of interests! No wonder gold is where it is & the NGM (nice government men), the Roman Empire, (sorry meant to say United States of America, (the worlds greatest economy), continue to sell it down. If all the gold company shareholders & owners of gold collectively sued the US government for controlling the gold price, essentially leading to a decrease in value of our shares & holdings in the International Court, I'm sure it would be a resounding victory for the gold miners, shareholders etc. Who wants to e-mail Barrack Obama on his blackberry and tell him it's supposed to be a free market global economy? Anyone? Have a read of Franklin Saunders blog on www.goldprice.org.
OZL Price at posting:
$9.00 Sentiment: Hold Disclosure: Held
