BI - gold just got ANNIHILATED!!!1!ELEVEN!!
Here's Joey the Weasel:
It's not totally clear why gold just fell out of bed this morning.Um... more sellers than buyers?
But overall this is a terrible environment for gold, as all the old stories about endless Fed printing and hyperinflation and political instability are coming to an end.Yes, and how much gold demand is generated by people buying due to fears of hyperinflation and political instability, Joey?
Instead the Fed is pulling back on QE, the US government just passed a budget, and inflation remains low?And that's the funny bit, the thing about silver. Cos if the US economy is accelerating, then shouldn't an industrial metal used widely for electronics and photovoltaics see its demand increase?
Silver is also similarly tanking.
Instead, Wall Street Whitey tanks silver because he thinks it's just another form of gold.
So that's your answer to the first bit, above. Wall Street Whitey sells the PMs and they go down.