|This is what I think of gold|
Spending anymore time than the above sarcasm on the overnight price action serves no useful purpose. If you still have some cash in your accounts then buying any red miners at the open you may have on your shopping list may be a good strategy. I will not be buying since I am fully invested in the miners and could care less at this particular juncture what they do in the short term. Headline price of gold being driven down after the QE announcement is not surprising and will be short-lived most likely. The price action in miners today and recently hints strongly that real buying has begun. I have tried to help you expect the volatility and counter-intuitive moves in PM equities and I will reiterate that more volatility is ahead.
These are desperate times for the game so be aware of the pitfalls of leveraged trading. If you cannot afford to trade in this market then get into physical now....otherwise strap in......this flight is going to get bumpy. Remember they don't want YOU in this trade and they will try over and over to shake you out. gl