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January 24, 2011
Gold prices have declined 8% steadily over the last two months, coming off of a 50% appreciation during the uncertain periods of the global depression. The economy is improving and hiring has increased. The European debt problem and demise of the Euro seem to be less imminent. As a result, the financial reporters are asking if it is time to sell gold and cash out.
The Wall Street Journal reported that commodity trading is “rediscovering fundamentals” and that the “fear trade” is off. Bloomberg TV reported that the hedge funds are making trades out of gold.
Former Reagan budget official David Stockman also warned that commodities were overpriced.
This leaves only Yukon Cornelius and the Burl Ives Snowman singing the praises of Silver and Gold