The sales of gold American Eagles has collapsed. Check it out.
http://www.usmint.gov/about_the_mint...s&type=bullion
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The sales of gold American Eagles has collapsed. Check it out.
http://www.usmint.gov/about_the_mint...s&type=bullion
Industrial shares taking a beating but gold indexes doing a lot worse.
GDX -1.42%
GDXJ -2.72%
XAU -1.74%
HUI -1.49%
The fear is starting to spread.
Is America starting to go into withdrawal symptoms now that the life support is being cut down?
This seemed to be provoked by apprehension about disappointing corporate growth reports.
JP Morgan is the first out with weaker than expected growth reports. (Blue chip stocks down 2.3%)
Nasdaq has taken a hammering--These weak corporate growth reports could be fuel on a dangerously smoldering stock market.
Skol-You may have been watching the wrong bubble.
Of course no reason to think that gold juniors wont get caught in the mayhem as well if this gets out of hand--Gold itself could go either way.
Sometimes it falls with the share market blood and then rebounds when people realize its a safer place to be.
Still happy to have some as insurance.
There isn't shred of proof industrial stocks are in a bubble, it's goldbug wishful thinking. Provide me some proof if you can, I'd like to see it.
Bubbles have particular characteristics, if you got creamed in the gold bubble then you should know what they are.
I enjoy making notes in my diary of predictions throughout the year, accordingly I've noted Faber's 'crash' prognostication and if it doesn't come true I'm gonna do my best to rub his nose in it.
The price of gold has a long way to fall.
Now that's interesting. Today's Gold and Silver markets open with a large spike to 1326 and 20.08 respectively, breaking short-term resistance. Bodes well for aussie gold diggers, come asx open, and precious metals more generally for the week. Bullish..
Gold was fairly subdued Friday as equity markets continued to feel the hurt. Listening to various networks interviewing traders, fund managers & the like the, fear seems to be growing that this is the start of a continuing declining market. Last time we saw a sharpish correction in equities there was almost a unified call that pullback would create an opportunity to get back in at better levels. The tone imo seems quite different this time around, with anyone seen spruiking the market being shouted down. Reputations are on the line & those talking up the market without foundation & purely from a self interest perspective will be found out. The market is not so willing just to believe after what happened in 2008 & are also very aware of what happens if brokers & funds come under pressure. Better to be in cash than risk your money being caught up in some leveraged play where losses can quite often far out weigh expectations. Again today watch the Nikkei, it has had a shocking week or so & how it trades today will set the tone for the week. I suspect again we will see lower. More S&P companies report Q1 earnings this week & expectations have dropped from 6.5% earnings growth a month ago to 2.5% 10 days ago to now less than 1% earnings growth. Hardly an environment that justifies record levels in equities. Gold is showing signs of a very strong week with early bids pushing it straight up $8. The Ukraine is heating up again, with a deadline being set for Monday morning Ukraine time. Putin I think will play the long game & wont be looking for all out civil war, but only time will tell on this one. Gold should look at the $1350-60 area this week. Have a good week. Cheers Daytr