"panic in the equity market""....yes i agree that indeed the buying panic in the market will be severe.....and it seems to be underway as this chart of the rydex ratio suggests <A HREF="http://home.chello.no/~hlokke/RYDEX.htm" target="_new">http://home.chello.no/~hlokke/RYDEX.htm</A> and that includes the buying panic in gold