``Today legendary Jim Sinclair's chartist, Dan Norcini, told King World News that fresh gold shorts suffered large losses in yesterday's trading.  Norcini said massive bids came into the market as gold crossed $1,640, volume spiked and the shorts were squeezed.  Norcini stated the buying which came into the market was intense, and caught many market participants off guard.  Here is how Norcini described the gold shorts getting mauled:  "The move in gold seemingly came out of nowhere yesterday.  Gold had been down earlier in the session when a huge bid came into gold at the $1,640 level and that took out the shorts at $1,645."''

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