Is this your reasoning why dow/s&p effect PMs? Riots, fires, deaths are the current headlines, but there are also technical market factors. PMs might do anything... US equities markets open in under 10 minutes...
since december 31,2009: gold ($1,174.10) up 8.0% silver ($17.59) up 3.5% platinum ( $1,669.00) up 14.2% palladium ($510.00) up 29.8%
CURRENTLY: Prices pretty stable over night in Asian markets and Japan back after holiday... GOLD @ $1,176.40/oz. Silver @ $17.61/oz. Platinum @ $1,678/oz. Palladium @ $515/oz.
CURRENTLY: in UK/EU markets... GOLD @ $1,181.40/oz. Silver @ $17.60/oz. Platinum @ $1,673/oz. Palladium @ $517/oz. US Markets opening in less than 5 minutes...
CURRENTLY: At the US Market open... GOLD @ $1,180.20/oz. Silver @ $17.54/oz. Platinum @ $1,673/oz. Palladium @ $517/oz.
Gold prices had been slipping earlier Wednesday but bargain-hunters came out in full force and bought the precious metal after gold's selloff. Gold is an appealing investment during times of financial crisis and currency debasement as a form of money that doesn't lose value. Analysts expect gold's tug of war to continue tempering gold's run to $1,200 an ounce. Prices will be torn between investors' need for cash and bargain hunting, profit-taking and good buying opportunities. http://www.thestreet.com/story/10746706/1/gold-prices-rise-as-bargain-hunters-buy-gold.html
CURRENTLY: bargains or a was it just a correction to a new base...? GOLD @ $1,184.10/oz. Silver @ $17.61/oz. Platinum @ $1,671/oz. Palladium @ $513/oz.
I could totally live with gold in the $1180's for awhile....seeing it down around $1,100 or even $1,090's was kinda painful....
Interesting how silver always seems to lag behind gold run ups... but when there's a dip, silver goes down just as fast....or so it seems...