Gold, too, took a beating yesterday. It fell $21, to $886. “Will we ever have an opportunity to buy gold below $900,” we asked a few days ago. Now we have our answer - yes.
August 7th, 2008 | Bill Bonner | 2 comments | ContinuedAll Posts Tagged With: "price of gold"
The Price of Gold Has Not Retreated Permamently
We’ve said for years that there is a very tight correlation between rising oil prices and rising gold prices. While oil prices may moderate at some point - because, again, no market goes straight up or down - the trend is clearly for sustained high prices. This is additional support for the price of gold in our view. So…given gold’s correction, you might go right ahead and sell your gold. I’m hanging on to mine. And if I’m hanging on to my gold, I’m hanging on to my gold stocks.
May 14th, 2008 | David Galland | 0 comments | Continued
Bankruptcy Filings Rose 18%
Bankruptcy filings rose 18% in February. One of the big mortgage lenders, Thornburg, of Santa Fe, New Mexico, defaulted on a $320 million loan. Investors sold the stock. Just a week ago, it was a $12 stock. Now it’s a $3 stock.
March 7th, 2008 | Bill Bonner | 0 comments | Continued