Gold Remarkable Reversal on Euro Jitters Flight to Safety
Commodities / Gold and Silver 2012 Apr 11, 2012 - 12:10 AM GMTBy: Jesse
There was a remarkable intra-day reversal in gold as stocks slumped hard on fresh European debt jitters of the Italian and Spanish variety.
This divergence was probably a flight to safety, as gold soared but silver lagged.
Gold had also come to the bottom of its short term trend channel, so the selling algos were likely a bit old.
I did some buying in the early part of the day as gold and silver were down and some of the better mining stocks including some lesser names were just battered.
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