Auguries—Treason of the Clerks
June 28, 2012
By Kevin Michael Grace

Gold was down (at press time) $12.40 (-0.8%) for the week to $1,552.10, and silver was down
.65 (-2.4%) to $26.29. According to Reuters, gold is “acting more like a risk asset than a safe-haven investment…influenced by pessimistic expectations for a European Union summit that is unlikely to yield the magnitude of measures needed to tackle its debt crisis.”

Good old Reuters. At the Globe and Mail, Tim Kiladze mocks, “Here’s a simple question for the goldbugs: if their precious metal is such a safe haven, why hasn’t it shot up as the European debt crisis unravels?”

Read the rest of this article on gold prices.