Inflation is screaming. All you have to do is look at your life and what it costs.
It would appear that we are at the top of the trading range.
My brokers on the floor work every order I give them. You pick up an extra dime here and there, and it makes a big difference at the end of the year.
It was COMEX options expiration today, so they got gold down near the big strike price at $550.
It's a huge technical negative to make new highs and fail. It's the funds. All of a sudden they all turn sellers.
People are buying gold because it is now apparent that we are going to see massive inflation. Gold is the best hedge for inflation.
The fund buying has gotten crazy again; they are taking prices to new highs.
It was such a quiet day and there was nothing going on to move this market.
It's the end-of-the-year foolishness time, where you can run it up and run it down $10 on no news. I think it's a sell. But the downside in gold is limited.
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