Give Me Your Money (No, I Mean Gold)

Posted by Bull Bear Trader | 10/13/2008 01:48:00 PM | , | 0 comments »

Money continues to flow into gold assets and gold ETFs (see Time Online article). The SPDR Gold Trust has expanded its holdings by 26 percent since the Lehman Brothers failure. South Africa has temporarily run out of krugerrands, and the US Mint has also temporarily suspended sales of American Buffalo bullion coins (American Eagle coins were already halted in August). Maybe this is a contrarian sign. The market action today certainly is promising.