Gold silver and platinum have not performed all that well of late and it is unusual given the safe haven that gold usually is.
Some were tipping gold at prices well above $1,000 an ounce not that long ago.....all the way to $2,000. That didn't happen.
Some were predicting crude at $200 plus a barrel....that did not happen.
Some were predicting the aussie at parity with the US dollar....that did not happen.
I think in general terms we are in unchartered waters. In many ways, the old rule book should be thrown away as these times are like no other.
I for one would only dip into the market on very short bursts. I predicted the downturn we had recently {Monday} and on Wednesday I was telling people that Thursday would present good buying ops.
Have a look at my pervious posts on those days.
But in general terms we are are headed south after this short lived bull.
In brief, it will be three steps down one step up imo.
The dawn will break over this bleek period when the US houseing market turns. As soon as you read that house prices are showing some recovery in the US, you will know that the worm has turned.
The resulting effect on our economy will not start to kick in until about 12 months later however, but it will signal that the worst is over.
Then and only then will the "recovery" begin.
It will be slow and painful though, beginning with commodities. Iron Ore producers may feel the first effect of any recovery and also nickel, copper etc.
As for gold......not so sure. But I wouldn't rule it out imo.
But before all of this, we have a few years of the worst depression in 80 years to cope with.
It will get ugly out there. _______________________________________________________
THE ABOVE IS NOT FINANCIAL ADVICE AND NOT DESIGNED TO BAIT, TROLL, FLAME, CREATE AN ARGUMENT OR OTHERWISE CAUSE OFFENCE TO ANY PERSON WHO SO-EVER IS ENTITLED TO DISAGREE WITH MY OPINION AS STATED IN THE ABOVE TEXT
