FRENCH DOWNGRADE AND QE3 LEAK DO NOT HELP GOLD AND SILVER
S&P today downgraded France and other European countries. Such a downgrade just before the long weekend should have caused about $70 of up move in gold. GLD and SLV not only did not respond, GLD and SLV are now down. Gold futures GCG2 are now down to $1633 and silver
January 13, 2012