Replies to post #24727 on GOLDBUGS AMEX Goldbugs Index (GOLD)

[Montanore]

Look at the chart and the $20 drop from the high. It did that as the market flipped and made a 150 point swing and as the dollar went down and oil went up.

http://www.magyver.com/metals.htm

I think gold went down because the Europe situation is seen as more 'safe' and therefore there's no need for gold. That's ridiculous of course, but things now move on ridiculous news and assumptions.