Silver crashes through $14/oz
We’ve been patiently waiting to see which way the market would break. Silver fell below the psychologically important $14 level today. Gold is off $8 to $925. The GLD is trading below its 200 moving average, and with a gap down this morning, should be bumping against the key $90 level. When gold falls below $900/oz, more furious selling should kick in.
July 1st, 2009 at 4:47 pm
Reading a few posts on this blog, all intelligently and eloquently written, I’m reminded how easily the volatility intrinsic in a secular gold bull market (or any market) can throw investors attention from focusing on the long-term to staring blankly at the changing prices on a day-to-day basis.