NYC shorter attackMost mornings around 8:30 AM EST the New York city shoters pile on to anything they consider overvalued. Today they launched a massive shorter attack on Gold and Silver. At it's worst Gold was down $40 and Silver was down over $1. It appears to be over now.
It is a shame that it just happened to coincide with the Q3 production figures which were just as good as Q2.
I have read that some of the big NYC shorting desks are naked shorting which is illegal.