Zowee. Except for gold, everything is getting HAMMERED today.
And I'm not sure if the gold-to-oil ratio has ever been higher.
What do you guys think?
It seems to me that if today's gold action is based on the other markets or the health of the economy, then you guys should give some serious thought to what might lie ahead for gold if the kind of crash some of you (and a lot of market pundits) predict actually materializes. Gold has already outperformed practically everything else in 2016.
As for that gold-to-oil thing - and the close relationship the two have historically held - one has to wonder whether oil's fall presages a fall in gold's price (perhaps to $800?), or if the relationship is coming to an end (perhaps because confidence in fiat currencies is eroding, having a particularly positive effect on gold.) If that last is the case, then things are truly different this time and 'the end is nigh! Run for the hills!'
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