Here is what is happening...

Traders are selling anything to cover their losses and that includes GOLD..

Gold has been the hedge against the losses on everything else ..BUT when trading margins have been called..cash must be raised..Where did the traders have all their profits and cash stashed...??

Why in gold of course...

So what we are seeing is a sell off in gold to cover trading losses...Relax...when gold turns up..it will rocket through the roof..but the blood is not running in the streets yet..you will know when the blood runs ..when the gold market turns up..

hang on...KXL will only go up with it...

And we are heading into a three day weekend..You may see the upturn before the market closes..but the markets are wary..as they don't know what the G-7 ministers are going to come up with this weekend and may want to be in GOLD when the market closes ,just to be safe..

So There....

Relax..

have a hooker of rum and sit on yopur hands..

Portee