June 29, 2010
– Comments (8)
I thought Gold was suppose to go up in these kind of times?
Take a look at the 10-year Treasury bond. The yield is insanely low.
I think they'd rather have Treasury bonds instead. I know I would.
Congratulations. You've discovered that there are no sure things in the world of investing.
We're in uncharted waters. Here there be monsters.
step away from you computer and go for a walk...or pick up some INTC under $20
It will, be patient. The general trend will be higher. But that's not to say gold /precious metals won't have particularly bad days for no logical reason.
Surprising though is VIT a Chinese stock holding up pretty well at 52 wk highs even with today's Chinese stocks in turmoil on accounting errors :
Global equity markets were experiencing steep declines Tuesday. The MSCI Asia-Pacific Index fell 1.6%, with Chinese shares seeing the largest selloff and sending the Shanghai Composite to its lowest level in 14 months. News that the April leading economic indicator, compiled by the U.S. Conference Board, was revised from 1.7% to 0.3% due to a calculation error weighed on sentiment.
Seems to me like a good "buy the dips" day. My PM stocks may be selling by they aren't crashing. Gold seems to have strong support at $1230. I dont see any reason to panic.
I referenced this post in my article today