The US markets took another beating yesterday, with the Dow losing over 1200 points in a single session. So what started as a nice sideways consolidation up at the all-time high of 29500 has turned into an absolute drubbing, with no real sign of the bottom yet.
Gold, meanwhile, hung in pretty well, as you would expect for a safe haven during a sudden drop. Here’s the 1-month chart of GLD, the unleveraged gold ETF, compared to the Dow 30 average over the same period. The charts are pulled right after the open on Friday, so the last day is “today” but will probably be just a tiny stub. But this way you’ll see the magnitude of the drops, in their full glory.
The Dow is the… Continue reading at ETFDailyNews.com