Interest rate was cut by half a point today so gold hit a spike of over $933.
But the dollar's Plunge Protection Team (PPT) is getting a good workout by dumping on to the gold price and back below 930 it goes.
I most certaintly feel that the first time it went over $930 many were taking profits so that alone would have sent it into a retreat, but this is the third time and after an interest rate cut so it can not be just profit taking, no siree.
It is mostly the PPT at work.