Ein Industriemetall, mehr ist es nicht zur Zeit.
Beim Gold Sector :
The gold establishment has been surprised that gold and silver have been declining during a financial crisis.
Wasn't gold meant to be a safe haven in times of distress ?
Under such conditions shouldn't one have enough gold to at least bribe the border guards?
The other important point has been that silver would plunge relative to gold, which it always does in a financial panic.
The key turn in the gold/silver ratio was the low at 50.7 on May 23 when the credit markets resumed the horrendous trend to contraction. In discussing the transition we noted that at the end of the last U.S. banking calamity in late 1990 the ratio reached 100, which has been our target on this financial catastrophe.
The breakout was at 54 which was exceeded on August 11 and this in itself was a signal on this crisis. The ratio is now at 71. ...bald 100 ???
It seems that a long run of soaring prices prompts unsupportable intellectual hysteria about pseudo-scientific causes. In which case, today's credit crisis and crashing commodities are anticipating a turn from the politics of hysteria to the politics of sobriety that typically follows a mania.