Crack-down (part 5)

May 17, 2006

When I checked the markets this morning, gold was up over U$ 18. A little later on it was already down from there, up only about U$ 2. In the end, the closes for Wed 17 May ’06 were:

Gold: U$ 691.80, down 1.10
XGD:TSX: C$ 75.15, down C$ 2.45, down 3.16 %

At one point in the afternoon gold was down around U$ 9, so it seems to have come back some. Still, with a downward swing of U$ 27 or more, it looks like the short-term bounce is playing out. We need to see at least one heavy hit in the next 2 days, and it’ll be well on its way. Here’s hoping!

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