why isn't gold moving more based on housing bailout news?

[mikedev10]

hmmm? with 300 billion and a blank check for dollars looking like a definate pass, why aren't gold and silver on a major upswing?

[phirang]

vote is saturday.

i'm long gold and CMO, AGNC, etc (mortgage reits that'll rip on the bailout news).

[mikedev10]

but it is certainly expected to pass - so no need to wait for saturday for market to price in right?

[phirang]

this is a market of sissy pm's who are freaking out and getting redemptions left and right - steady hands are few.

[bart]

A mildly revised article of mine from early 2007 may shed some light on the cause.

Gold price manipulation/control proof
http://www.itulip.com/forums/showthread.php?t=4640