The Phaserl


Gold Breaks Below $1200

from Zero Hedge:

From the moment Bernanke spoke, Gold and Silver began to accelerate to the downside. Gold legged lower into the NYMEX pit close and faded further in search of the $1200 round number (trading at $1199.90). Down around 12% from the FOMC (gold is now -38% from its highs in 2011). Silver is following (down over 14% from FOMC) as the Gold-to-Silver ratio test 65x (double its lows in April 2011 around 32x) and back to the ratio that existed as Lehman failed.

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