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.

The Chinese are wild gamblers! We all know that! When it comes to gold, however, they seem risk averse. Gold futures were introduced on Shanghai’s Futures Exchange in January. They were only the second product – after zinc – on this new market.