Will we see gold crash $50 or more tomorrow?
By Daniel at 17 December, 2009, 8:59 pm
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GOLD CRASHES THROUGH $1,100.00 AND CLOSES AT $1,095.52
“Gold Price Plunges - U.S. Dollar Rally Sends Gold Stocks Lower”
“The gold price closed down $42.58 to $1,095.52 per ounce on strength in the U.S. dollar as the price of gold and gold stocks continued to face severe selling pressure. The U.S. dollar index, up 0.733 to 77.728, closed at its highest level in over three months. The Market Vectors Gold Mining ETF (GDX) followed the gold price lower, as it finished the day down $3.01, or 6.24% to $45.20 - and is now down 18.4% from its high print of $55.40 on December 2. Canada’s S&P/TSX Global Gold Index closed off to 16.77, or 4.8% to 332.46, a 15.9% plunge from its early December high.”
http://www.goldalert.com/stories/Gold-Price-Plunges-US-Dollar-Rally-Sends-Gold-Stocks-Lower-
Losses in some gold funds are now approaching 20%. Will we see gold crash $50 or more tomorrow?
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