SO the SPOT GOLD PRICE sank in October, dropping right back to 13-month lows at $683 an ounce. After failing to breach $930, this collapse marked the third step lower from March’s all-time high of $1,032. And from a technical perspective, the Gold Chart looks horrible – recording lower lows and lower highs for the last six months and more.

Not a lot happened in both gold and silver yesterday. The tiny rally in the Far East got sold off starting at 3:00 a.m. New York time, then rallied slightly in London and into the Comex open…and that was that once again. Ditto for silver.