Panic has hit the market. The world has finally realized that the leaders in Europe can't do anything to stop the demise of the EURO and the EU. No one knows what the fallout will be so EUOs, gold, silver, ect is all being sold for assets outside Europe, such as the USD. Enough gold was sold to trigger worldwide selling, so here we are. Once the panic ends there will be a rush back to bargain-priced gold. Ultimately, paper currencies in Europe (whatever the ultimately are) will be printed like mad, pumping gold even higher.