Thursday, November 15, 2007

Synthetic alarm?

Gold's fallen nearly $50 dollars off its 7 November high, just as everything else seems to be taking on a crimson hue.

Is it central bank intervention in the bullion market, or gold forgetting it's a currency and trying to be a commodity, or a temporary slackening in demand because of investment houses having to pony up some cash to cover other positions?

"Danger! Danger!" to quote Robby the Robot from Lost In Space - and next episode, the meteor shower will hit the ground harmlessly.

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