Tuesday, August 3, 2010

"Another Lower High in Gold?" (GLD)

From Bespoke Investment Group:
Ever since stocks made a short-term low back in late June/early July, gold hasn't been able to get out of its own way.  After several months of higher highs and higher lows, the commodity has now been making a series of lower highs and lower lows.

What makes the declines in gold even more puzzling is that the dollar has also been extremely weak.  In fact, for much of this year, the relationship between gold and the dollar has been defying logic....MORE