Hmmm....Dow down and Gold still up. See if it holds today.
I don't think it will. I can see gold down to $1100 in the coming weeks. I'd love to get a chance at silver in the $13-15 range but I don't think it'll get there, but we may come very close. Far too many people buying into the US recovery story, so gold is dead money right now. I don't personally buy the story, but I'm far far outnumbered! Too many people focusing on US housing, rate of Fed tapering, level of the DJIA. Not enough people focusing on Deutsche Bank at 60-1 leverage ratio, Chinese SHIBOR rates and bank liquidity, declining US labor participation and underfunded pensions...but they'll figure it out soon enough. All the lipstick in the world won't make this piggy look like a supermodel.