Ahead of Fed meetings we are used to seeing gold and silver under attack. It makes sense that on the eve of the World Economic Forum in Davos we would see similar pressure on precious metals. It sounds like large interests are taking advantage of the markdown in prices.

http://www.kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/1/26_London_Trader_-_Big_Money_Lined_Up_To_Buy_Gold_%26_Silver.html

Comex futures for January expire tomorrow and if you look at the 6 month Gold Chart there has been a lot of paper sold above $1340.00 strike between then and now. Throw in Davos this week, with a media blitzkrieg and the POG did not have a chance. I have my fingers crossed for next week.