electronic futures and options may do for gold what it did for grains.... CBOT has it's act together far better than "the others"
if oil prices continue lower along with the Euro againt the USD also if the yen rallies against the USD then I would have to agree that the recent highs in gold and silver will not be broken ( wild card - IRAN ) ?
Gold appears to be only in a multi-week correction, not a final top. "Gold: A volatile week as the intermediate term correction gets underway. Initial support $530, then $515." http://spaces.msn.com/caldaroEW/
Can count 5 waves down here from the highs in Gold, maybe some countertrend bounce or sideways activity for a few days.
G/S did OK today considering..... there's about 20 million oz. of March Silver call open interest from strikes of 9.75 to 11.00 I suspect the trade will do everything possible to keep silver below 9.75 ahead of expiration...
public comment period ends Feb. 13 for he Silver ETF and no telling when the SEC could act..... SUA is on thin ice just bitching about the effect on price.... who knows......
Gold rallied a bit this week: ABC up after 5 waves down, and a 50% retracement. Roll over again shortly for another 5 waves down...