Gold/Dow 1930/Now

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alanwi111

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Gold/Dow 1930/Now

posted on Jan 30, 2010 02:29PM

If I had to have a stab at it, I would guess the general stock market could be rolling over after its bounce back from 2009, if you compare the Dow chart today with that of 1930 today’s Dow could now be toping In 1930 the Dow fell from 280 to 50.

We all know what happened to gold stocks when the market tanked in 2008. A few things are clear here. First, gold stocks did go down during the initial panic in 1929 and second, the most spectacular gains occurred after the final stock market bottom in 1932.

The gold market has been manipulated and suppressed which it wasn’t during the 1930s. What’s interesting to see how well Homestake did in a free gold market. I doubt if the manipulators will be able to withstand such a strong gold move. Having said that, even if the fundamentals stay the same what moves a gold market more than anything is sentiment, if enough people start selling it most certainly will go down.

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