We are getting hints that around $1,080 may be the bottom for this correction. Jim Willie reports that the stress in the physical gold market is increasing. Even though we donn't seem to be getting any news about it in the MM, it is more obvious each day that the physical market is close to overcoming the fradulent crimex paper market as THE price discovery mechanism. I strongly recomend his news service. He gives a lot of information to back up his predictions. Here is snip.

From Jim's latest:

"Huge demands for physical gold are coming from entities holding allocated gold accounts, where deposits are held at gold bullion banks. The depositor entities are showing up unannounced, with full paperwork, demanding gold to be handed over. The paperwork in hand consists of lists, bars, dates, serial numbers, weights, and smelter hallmark brands. This is a full blown run on the bullion banks. It is unclear whether they only doubt their gold remains in possession, or if fake gold is held. This has gone beyond a verification process. Depositors are being shown the stacks of shiny pretty gold bars, and urged not to take possession, told their gold is safe. But the entities are not convinced their particular own gold bars are among the vaulted holdings, suspicious that their gold has been leased and sold, replaced by paper certificates. They might harbor concerns over fake gold like tungsten bars. Big clearing houses are also owed large amounts of gold bullion, and the bullion banks do not have it, according to anecdotal reports. Court challenges are likely soon to surface. End of year squaring of a high volume of gold contracts are at risk of not being completed. Great stress has entered the system."