CHART OF THE DAY: Gold Plunges On Day Of Massive Global Money Printing

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The big news of the day: The world’s big central banks (The Fed, ECB, SNB, BOE, and BOJ) have all joined hands to provide liquidity to parched banks.

As some might say: money printing!

Well, despite the common belief that there’s a connection between liquidity pumping and gold rising, today that’s not happening, and in fact gold is tanking, falling well below $1800 (it was above $1900 recently).

Whatever benefit gold gets from easy money was cancelled out by a brief removal of the “fear” premium.

chart of the day, gold futures, september 13, 2011

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