Gold Down Eight Days in a Row
For the eighth day in a row, gold finished the day down. Since 1975, this is the sixth time that the commodity has had an eight-day losing streak. Just as eight hasn't been a lucky number for Chinese investors, eight-day losing streaks for gold haven't a turnaround point either. Looking at the five prior eight-day declines, gold has finished the ninth day with a gain three out of five times, but the average return has been a decline of 0.2%. Looking out over the next week, gold has finished lower three out of five times for an average decline of 0.8%.
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A chart from 1970 to 2008 of spot gold , would be a real eye opener for the kids, maybe throw in the Fed over night rate too. oooo ya 900 gold then two years late 14%!
Posted by: dj | August 12, 2008 at 06:40 PM
Gold Chart
http://badgerthelion.blogspot.com/2008/08/gold-when-charts-speak-louder-than.html
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Posted by: Badger The Lion | August 13, 2008 at 09:57 AM