Looks as if under 740 is about where the price is going to hang for awhile. Got through 740 once today only to get beaten back. Touched 740 at least 4 or 5 times and is now doing its regularly programmed swan dive.

Part of the heaviness is probably due to the expiration of gold December options this Thursday, the 20th. There is still a huge open interest in most strikes going way out. For example, at least 16000 sitting at 900 and 24000 at 1200. That's a lot. So there's a motive to try to keep the gold price tied to an anchor, at least through Thursday. The largest numbers seem to be concentrated at the even hundred strikes, though there's enough at other strikes to encourage these cannibals to push the price as low as they can and scap up all that free premium gravy.

Looks like whatever some guys thought they knew a while back has turned out to be star dust...maybe. Still have a few days to go. In the meantime a lot of guys must be functioning on cardiac reserve, especially if the money on the table is their own.