IF... even I admit a big IF... gold bugs (i.e. Embry et al.) are correct... gold will be trading much higher just 1 week from today... November 20... when COMEX December 2008 options expire... open interest for December calls is enormous... most at prices much above current spot.

Have no idea what may happen... Only time will tell.

red911

P.S. Redemption deadline for 2008 for many funds is at the end of the week... selling pressure from funds to raise cash for redemptions has caused a lot of selling pressure as evident by recently released record October 2008 redemption numbers... lots of money on the sidelines waiting for final redemption tally to come in?