Wednesday, August 24, 2011

Cracking Gold...

Apparently, people are saying that the gold trade is cracking...

Snip*

It was fun while it lasted, but it looks as though the gold trade is finally unwinding. The precious metal booked a record high close just two days ago, settling at $1,891.90 an ounce on Monday. Today it took a fast and furious 5.6% dive to close at $1,757.30/oz; it's biggest single-day drop since March 2008.


While I don't have much of an opinion on the price movements of gold, I have long been critical of owning it. That said, I won't be surprised by anything that happens in the gold markets...

Disclosure: None. This is not advice of any kind. This is not a recommendation of any kind. I have received nothing to write/post these notes. Always do a ton of your own research in regard to anything that I say, do, write, or so much as even think about.



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