Gold Battles Back, Bugs Cheer
Source: MarketWatch, Peter Brimelow (9/19/11)
"Bugs blame central banks, but say they'll fail."
Gold was looking pretty dismal most of last week and so were gold shares.
Gold for December delivery GC1Z -1.91% traded on the Comex division of the New York Mercantile Exchange, from last Friday's close to this Friday's low, lost $93.90 or 5.1%. The NYSE Arca Gold Bugs Index XX:HUI -0.70% at its low was down 7.1%.
This unpleasant trend caused the Gold Charts R Us service (GCRU) — which attempts to trade short term moves in gold and gold shares — to take decisive action in its weekly update published at midnight on Wednesday. . .View full article