Gold sinks just a bit.
I can remember when days like today would see gold lose $50 or more, but in my opinion we may be starting to witness a pattern where, when gold reaches over bought territory only to sell off, we find buyers eager to jump into those dips.
Looking at the graph in Lear Capital’s free real time tracker today gives a glimpse of that.
Gold right now is at $1,245.80. The high looks to have been around $1,258.00.
I’ve got a few links for you.
The first is a really good short interview of Lori Ann LaRocco, producer of CNBC’s Squawk Box, on King World News. It’s a short interview but packed with a lot of good insights and info. The interview link is here. Her blog link is here. I found the info on oil at the beginning very interesting.
While I’m on the subject King World News, check out: Ben Davies: Gold Wars – A Golden Renaissance
Here is an interesting little tidbit from David Engstrom: Lear Capital: Is Silver Set to Soar?
“Today Levenstein reports that Hong Kong based trader Dick Poon, says the growing solar industry will consume 1500 tonnes of silver each year.”
1500 tonnes = 52,910,942.9 ounces folks. That’s interesting as we go into this period looking for alternative energy sources.
This a must read and view from Jim Sinclair. It’s short and funny. See also: Improving Jobs Figure Nothing More Than A “Guestimate”
Until next time.