For comparison, recall that when the GFC hit in late 2008, the share market tanked with the ASX200 going from circa 5,700 to 3,600 in 6 months - a 37% fall. In the same period, gold went from approx $1,000/oz to $750/oz - a 25% fall. Essentially all asset prices were hit as deflation ruled. Any and all liquid assets are flogged off to cover margin calls. Over the last 6 months, gold has gone from $1,700 to now ~$1,350 - a 21% fall. This is not unprecedented and other issues in the stock market may be boding wider issues as others may said today.
Gold 1401! Sub 1400 within the hour? Silver tanking aswell.......... Geesus christ this is amazing........Tonights exciting!
I love people who rather than addressing a point say "go read a book". Can't you put it in your own words?
So, it could very well be that this smash in the PM complex is related to the Cyprus event. Well, according to Andrew Maguire anyway ... Remember Cyprus and then last week the depleting Comex inventories? Definitely feasible in my book. You will never know for sure, of course, but it sounds feasible to me. Unless its all a coincidence.
