From ZeroHedge(!):
It appears the machines forgot the shift in DST across the pond and started their European close flush a little early. Someone/something decided it was an opportune time to dump thousands of contracts of gold and silver futures this morning - clearly ignoring Alan Greenspan's advice. Gold ETF holdings are now back at levels first seen in April 2009. Gold's break below $1,200 likely brought some momentum chasers but Silver is in freefall, down over 5% and back to Feb 2010 lows. WTI Crude also broke below the crucial $81 level...
Gold
And Silver...
...MORE
*See for example:
Oct. 3
"Technical Trading: Charts Don't Lie, No Sign Of A Bottom In Silver" (SLV)
Or:
Sept. 30
Gold, Silver Resume Decline
...We continue to believe the collapse in precious is the highest probability trade you'll find and that silver is the easier call of the two....
Sept. 19
Gold Down, Silver Collapses
Sept. 11
Chartology: "The Downside Target in Silver is Below $15"
As we've noted over the last few months when posting on gold and silver "...The easier call has been silver".
Sept. 10
Silver Bounces at Support For the Fourth Time In 14 Months
Sept.5
An Argument For $13 Silver and $1100 Gold
Sept. 2
Gold: "There's something wrong with our bloody ships today, Chatfield"
...The easier call has been silver:
Gold, Silver Continue Fearless Decline
