1 reply to this topic

[nimblebear]

Gold seems to have been leading this decline in the equities market. Are people really getting that much cash from selling it, or are ETF's (quick in, quick out) really affecting pricing ?

Or is this demonstrating that it was highly overbought, and the assault on 700 was a teaser to trap gold bulls ?

This also seems like May-ja-vu all over again.

http://www.forbes.co...afx3479363.html



May- Day !

Gold now crashing. Down 17.

Edited by nimblebear, 02 March 2007 - 12:36 PM.

[pdx5]

In my humble opinion (IMHO) gold is tanking today because Iran has agreed to sit down and talk with the allies (US+GB). Also at the table will be Syria & Iraq. Gold is mainly a hedge against turbulence in geopolitics. From what I have observed, it advances nicely during inflationary periods. With the problems in housing and US dollar cancelling each other out, all I see is uncertainty ahead for interest rates.