17
Sep
2008
Stocks Down 3%, Gold Up 8%
I guess I feel vindicated today, since I have been saying since July 2007 (pdf) that US stocks and the USD were in trouble, and that precious metals were the place to be. As of a few minutes ago, the S&P 500 was down over 3%, and gold was up over 8%, for the day. Wow. I think I would have preferred to have called the Superbowl upset. At least my dad listened to me a few months ago and added a gold ETF to his retirement. (Of course, Paulson may decide he needs to temporarily suspend physical withdrawals just until things settle down a bit.)
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