In response to:

Gold Down Hard

olerocker/bluesman Wrote: Jan 05, 2013 12:57 PM
The only ones in this country making money off gold are the ones selling to you....it is not currency in this country, so it has to be traded on markets overseas or sold to jewely manufactors....The companies selling you the gold are making a good profit from it, don't beleive it? try selling it back to them the next day...even if the market is up........same deal as a reverse mortgage, you will end up losing.

There were plenty of indicators of continued bearish pressure on the gold market but the depth of Friday’s gold crash is extreme even by those standards. 

Gold was down $24.70 in early trading to $1,636.30 and silver was down $0.59 to $29.51 raising the silver/gold ratio to 55.4. 

The silver/gold ratio going up nearly a full point overnight means this is a genuine softness in gold prices and not a general softness in commodities.  To be fair industrial commodities were lower on a stronger dollar with crude oil, copper, platinum and palladium all trading lower but...