Weak Hand Wringing

You don't need no diamond rings
Or eighteen karat gold
Fancy cars that go very fast
You know they never last, no, no
--Madonna

Russell's big 'clean out' in gold is clearly upon us, with the yellow metal gapping lower this morning by another $25. Those with weak hands are crying uncle.

Stochastics are starting to twist low. We're also getting close to support levels marked last June.

Doesn't mean that prices can't continue to sink, but feels like we're close to a tradeable bounce.

I'm not tradin' 'em, however. Instead, am spreading buys with the goal of stacking metal in the long term vault.

position in gold