Travelin' Riverside Blues

By Jon Nadler
16 October 2008 @ 06:39 pm EDT

Gold prices breached the $825 and then the $800 level with ease today, dropping to a low of $783.80 in the mid-morning session hours. Overnight declines in the global equity markets derailed any expectations of a quick abatement in the slew of margin calls to be received by various participants. The $135 damage to the price of bullion was achieved inside of a single week. The same week that was the worst ever for gold's natural enemy: stocks. There goes that counter-correlation.

IBTimes Commodity Commentaries

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