Oh, look (14:49), gold's sprung upwards (see sidebar widget) - nudging $800.
UPDATE: ... or rather, $838 (17:50).
An 11% gain since I flagged it up 6 days ago. But when should the short-term speculator sell? $850?
And in the comments to the same piece I said I was wondering what was holding stocks up. Now I know - nothing much. But there'll be a bear market rally shortly, doubtless.
Twice in the last week I've seen bull comemtators taunting goldbugs by asking, "Where are the $50 gold updays you promised when the financial tsunami strikes?"
ReplyDeleteAs of now (15:40 hrs) we've just achieved this.
Amazing.
Could it be because of SEC:
ReplyDeletehttp://nmmmnu.blogspot.com/2008/09/gold-800-again.html
you called it right a week or so back, Sackers
ReplyDeletethis is starting to restore my faith in the 'hedge-against-bad-news' thesis
which, since I anticipate quite a lot of bad news ...
IMHO, IMHO !
It's at 842 now.
ReplyDelete> I was wondering what was holding stocks up.
ReplyDeleteProbably just Future expectations of inflation!
Quite possibly, ACO. Looks like the General Theory of Relativity applies to stores of value, also.
ReplyDelete>>> Future expectations of inflation
ReplyDeleteMan, you began to speak like FED
:D :D :D