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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?”
