Gold Falls Off A Cliff As Margin Calls Cream Speculators
By Robert Lenzner | Forbes – Wed, Dec 14, 2011…
We warned you that gold falls when the dollar rises– and you might have noticed the dollar rising as the euro falls– along with European sovereign bonds and European bank stocks. Gold you see trades in an inverse relationship to the dollar about 70% of the time.
Liquidity moves markets!Follow the money. Find the profits!
My gold guru, who was bullish all the way from $950 an ounce in June, 2008 until $1570 last summer, believes a good buying floor might be in the $1525 area; that would amount to a $400 correction from the 2011 peak of $1920.