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Seems to me the sudden drop in gold just goes to show how much speculative money was in metals. *Sure, it started out as an inflation hedge, but then the johnny-come-latelies and momentum players drove it up to dizzying heights.
Amazing how fast things can whiplash when the speculators run for the exits en masse.....
This whole thing (commodities, foreign, market averages) has been quite a spectacular selloff. *
Wow - I guess Fed jawboning can be very effective!
Audrey
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