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Message: Auguries - November 16, 2012

Auguries - November 16, 2012
Fool's Gold
Kevin Michael Grace

Gold was down (at press time) $12.20 (-0.7%) for the week to $1,713.80, and silver was up $0.43 (+1.4%) to $32.67. Gold fell $16.30 Thursday; the Associated Press attributed this to “growing worries about global economic growth with pending US budget issues and Europe’s recession.”

According to George Gero, vice president at RBC Global Futures, “Gold has a reputation as a relatively safe asset to hold during economic turmoil, but investors are ‘in a quandary and conserving cash.’”

Read the rest of this article about gold prices.

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