Advertisements

Gold Collapse … the Bubble Is Pricked?

from The Daily Bell:

Gold prices plunge overnight – is the rush over? … Has the gold boom come to an end? The price of gold, which has climbed for years like a blood pressure reading for anxious investors, plunged overnight to its lowest level in three months. Gold fell almost $US58 to $1,614 per ounce. It has declined 15 per cent since September, when it hit a peak of $1,907. It had more than doubled from the financial crisis three years earlier. The decline on Wednesday came on an ugly day in the stock market. The Dow Jones industrial average lost 125 points a day that last year probably would have caused fearful investors to buy gold as a protective investment. “It’s difficult to forecast, but I think the gold bull market is over,” said Cetin Ciner, a professor of finance at the University of North Carolina-Wilmington. He likened the surge in gold to dot-com stocks before they collapsed. – New Zealand Herald News

Dominant Social Theme: It’s over. The bubble is collapsing.

Free-Market Analysis: It really gets repetitious after a while. When the stock market falls, pundits don’t immediately shout, “The bubble is over!” No, there are anxious meetings and grave headlines.

We are to assume that if stocks fall something is wrong with the larger economy. But if gold and silver drop within the current context, we are supposed to feel relieved.

Read More @ TheDailyBell.com

Advertisements

Trackbacks/Pingbacks

  1. BENEFIT BY ADAPTING TO OPPORTUNITY « power of language blog: partnering with reality by JR Fibonacci - May 20, 2012

    […] Gold Collapse … the Bubble Is Pricked? (wrc559.com) […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: