It look likes........................buyers are all on holidays as many of my gold stocks have barely any action in terms of volume. I pity the people who need cash and want to sell only driving the price down further as buyers are nowhere to be found. The gold industry needs $450 + to get investors back in the market.
Hopefully China and other Asian countries start to sell their US treasuries this fall and start to buy gold to overcome the Comex paper trading. We need the paper traders to be buried in order to get gold back on its way to breaking the $500 level. It's sad to watch the market manipulation as the US debt grows by 2 billion dollars every 24 hours.
When it all unwinds there is going to be a lot of pain out there and I hope people start protecting themselves by locking in mortgage interest rates and paying down debt.
I definitely didn't think after holding Orvana for more than 5 years that we would be sitting at under a buck. Oh well...life goes on as I continue to hold and one day waiting to cash out and buy real estate once the bubble pops.