BAD NEWS FOR THE GOLD GRIFTERS

Glenn Beck, Mark Levin and all the other radio gasbags who pimped gold owe their audiences an explanation.

Gold plunges 5% on 'extraordinary selling'
John Waggoner, USA TODAY4:31 p.m. EDT April 12, 2013

Gold prices plunged nearly $77 an ounce -- more than 5% -- to below $1,500 Friday afternoon on massive selling.

"From what I've heard it's just extraordinary selling on the Comex," says Caesar Bryan, portfolio manager of the Gabelli Gold fund.

Gold has been falling steadily since its peak at about $1,900 an ounce in September 2011. Early reports said much of the selling Friday was tripped by stop-loss orders, which are directions to sell an asset when the price reaches a specific point.