POG

For nothing obvious to a little investor like me, you ponder why the POG went to below USD$1680 per oz in the last week and then rebound to USD$1720 per oz last night.  You wonder if there was another Gordon Brown lurking around somewhere.  Perhaps not all central bankers are intelligent people.  Some idiots have been selling their gold cheaper.

Of course, the POG can plunge again making those idiots look smart.  But POG should not move at that percentage unless there is a reason.  Hence, my suspicion that it is a speculator, an idiot or someone desperate for a huge amount of cash.

While today, markets around the world will tumble by a huge amount, I suspect with a bias towards gold stocks, I might suffer a little less.  You cannot rationalize with market sentiment but it is good that gold was a hedge last night against a crumbling stock market in the USA.