Oracle, re: gold is the place to be. During the GFC in 2008 the USD gold price dropped from $1000 to about $700, whereas in AUD the gold price dropped and then rose to a high of around 1300 AUD by late 2008, the height of the GFC. I guess the AUD POG variation was due to currency movements and a weak AUD. Anyway, my point is that in times of financial crisis gold has not necessarily proven to be such a safe haven. I hope we are not seeing GFC2 here. I suspect not, because we've already had a couple of scares this year and bounced back but that does not mean it won't be the big one again this time.
Just in case, I have implemented a personal austerity measure already - at lunch I had a Subway but eschewed my normal Berry Bar. This is a big move for me as they are highly addictive. People of Greece and other PIIGS countries, please take note.
AAM Price at posting:
20.5¢ Sentiment: Hold Disclosure: Held
