Quote:
Originally Posted by eazyb81
What's fascinating is that gold actually fell off a cliff today. In an equity market like we had this week, that would normally be the flight to safety, but it's not happening. It's just a totally irrational market right now that is throwing fundamentals out the window. There are companies that are literally trading at 1x earnings.
I can't wait to read a book about this time period in 10 years or so after this has passed.
|
That's the "paper" gold market where no physical gold is exchanged just ownership of stuff in vaults. The physical gold market is insane right now. The U.S. Mint along with other mints worldwide have stopped producing coins because of high demand. If you go out and try to by a 1 oz. coin you'll pay WAY north of $1000 if you can find any gold at all. The physical market could care less about the "spot" price. The spot market will eventually follow the physical market because it has to. These markets are totally nuts.