Disaster In Boston And The Disaster In Gold

Tonight as we sit pondering the gold crash today as the gang bangers run riot on gold we must reflect also on the events filtering in from Boston.

Yet another senseless act in global lunacy. My thoughts are with the innocent families of the fatally injured at a marathon on a public holiday



Over to gold today '' Wow '' -10% wiped off the price with a serious play laid out by the bears. As the panic sets in we must remember that the wall often does not fall so quickly or hard and with this in mind must consider the positions open long and the counters needed to cover such a decline in the gold price.


The Markets are over valued and have been for sometime and sadly with more uncertainty in national security in the days around such events with speculation running rife I'd say that the markets won't warm to such events, Perhaps the catalyst to Cyprus struggling, China slowing and Italy/Ireland/Slovenia adding fuel to the fire that all is not well yet the markets run north... Obviously this had to come to an end and perhaps the fun will end at 1300p for gold as the rebound kicks in in the wake of the biggest drop in 30years for gold.

My thoughts are they can only mask global concerns and the bearish news flow surrounding, which would encourage Gold purchase.

For now the bears continue the story that Golds day is up!!! '' Bollocks '' 1300 likely 1150 possible However watch for the rebound as the good ship FTSE pulls back...

Zak Mir gives analysis here: http://www.shareprophets.com/analysis/37/gold-crushed-by-20-bullion-sell-order-on-comex

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(These are but opinions derived from my own experiences and thoughts and do not adopted as statement of fact)