Oh! No! Gold is crashing ...
If someone think 2% or 5% is crashing ... then what is up with the flesh crashing of 1000 DJIX points in May 2010? Gold miner stocks are hammered today like gold is really crashing.
GDX is trading near 52W low while gold was still up 15% in 52W time frame after 15% correction from $1910.
Call QE3 or not, ECB has already done 2 round of easing. LTRO is a creative name.
Essentially, they involve the central bank lending money at a very low interest rate to euro zone banks, which has led to the term “free money.”
Maybe the trading computers search the Fed statement with matching "no QE3" which trigger the selling?Has headline trading gone wild? Or do I miss any fundamental shift in monetary policy?