Apparently, the laws of gravity still apply to gold. Over the past 4 1/2 months, gold has gone vertical tacking 30% onto its June low. Before Gold investors could finish rewriting their new science books, they were treated to not one but two $30 down days. Damaged for the week totaled 5.7%.
Gold investors received a double whammy as they often invest in silver as well. Silver fell 6.6% for the week. How about a triple? Gold equities as measured by the XAU Gold index sank 7.5% for the week. That is just taking a joke too far.
Commodity investors could find no safe haven in Oil as it fell 2.5% for the week.
Equity investors fared better as the stock market stopped the bleeding from last week’s drubbing. For the week, the DOW, S&P 500 and NASDAQ closed up 1.0%, 0.3% and 0.4% respectively.
The TTaMG portfolios had a tough week:
- Fab 4 -1.9%
- BBO -4.2%
- BRIC 1.5%
- Real Money -5.3%
- TBS -2.2%
- MDs Ag Play -3.5%
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