Wild ride for gold

Gold has been on a wild ride of late peaking at 1263 only to fall to 1191 last night.Right now in the 1215 range, which is not bad considering most pundits had 1,000 in their gun sights a  month and a half ago. No less than Goldman Sachs called for 1,000 yesterday, perhaps the most bullish signal yet. Remember the $300 oil call at  the 147 peak? A lot of news seems to be driving the metals, however, nothing has changed . Oil loans still at risk, unlimited money printing and so much debt that the zero’s no longer have meaning. Expect stocks to lag if not fall sharply, and gold should outperform. 50/50 chance of further melt ups in metals due to the market structure, option plays , short covering and just plain fear. Buckle up!