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Gold’s Downward Drift

chronic_relatiivism Wrote: Apr 23, 2012 8:22 PM
As opposed to pieces of paper with intricate patterns and pictures designed to make you believe (thus make believe) that it's actually worth something. Gold isn't flucuating, it's the funny money that attempts to buy it.

Physicist Niels Bohr once observed that prediction is difficult, especially the future.  I was reminded of that after speculating last week that gold prices would be up this week.  In fact we closed lower on a shallow but steady downward drift. 

After starting in the $1,650 range, gold closed in the low $1,640 an ounce range on Friday.  All through the week we experienced volatility that steadily produced lower peaks and deeper troughs.  

This week’s gold chart is exactly what one would expect to see in a gradually recovering economy coupled with softness...