The Blog of goldtracker

Okay, the doom and gloom got started early this morning before the market opened with DOW futures frozen at 550. It didn't open quite that bad but it did turn down and has been trading down for the past two hours around the 300-370 range.

I really don't want to take a guess where it will close. Guessing is stupid. But that seems to be all that the talking heads are doing as is the FED if you ask me. They guess on how much socialism is good for the "free republic" and how much money to invest in banks and business and who deserves to keep a home and get a home and on and on and on. Yeah. I'm a bit ba-hum-bug this morning.

I've been real surprised to see the precious metals following the stock markets down. ExactPrice has gold trading right now at 715.10. That's a good deal better then where it was over night - 686.60. Silver continues below $10.

It's hard to figure why they are falling but I think in part it's because so many are selling off to get cash for their investments and obligations thereby giving a bubble to the strength of the dollar.

I don't think that will last and continue to think that in the coming 12 months that inflation will be pretty bad and will force the metals up to some pretty high prices. Time will tell.

Here's a few items that I found intereting this morning.
 

Bloomberg -

My favorite line from this article:

"As denial was rendered increasingly untenable by unfolding events, champions of market fundamentalism began clamoring for increasingly larger doses of government intervention in failed free markets around the world to restore sound market fundamentals.

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Have a great weekend! Until next time.