BLAME THE IMF FOR THE BIG DROP IN GOLD
ETFs mentioned in this article include GLD, IAU, SLV, DGP, UGL, and AGQ.
Gold fell $54 Thursday. Most gurus were expecting gold to go up due to increasing instability in Europe.
Spain conducted a dreadful bond auction, in which it was forced to pay 6.975%, just shy of the 7% benchmark. Interest rate of 7% is considered unsustainable. Bid-to-cover ratio was 1.5 compared to 1.8 last month for a similar bond. The lower the bid-to- cover ratio, lower the investor demand.
The worst part of the Spanish auction was that the government was not able to sell all the bonds it wanted to sell.… Please click here or the title below to read more.
November 18, 2011