The gold price is collapsing

Throughout today, gold has been tumbling down a steep hill. As I write – after a brief rally when the NYSE came on stream – it has fallen $54 to $1506. On the UK markets, the yellow peril has slipped back into three figures, and now stands at £986.

In the last 15 minutes, it has gone into vertical freefall.

This is very probably the start of something hugely unpleasant. No point in analysis at this stage: I just strongly suggest you go to the real-time graphs.