Gold Dust

One of yesterday’s most interesting developments was the plunge in the price of gold. For weeks now the precious metal had been soaring and topped $1,000 oz. just last week.  Gold was the big safety net of the past few months as rattled investors bid the price upward.  It was the clearest sign that panic had befell the financial markets.  However, I got a hunch that gold has seen its high and that yesterday (notwithstanding the drop in the market) with gold dropping so much, investors may be getting a little more confidence that the financial world is not on the verge of disaster.  The Fed has been strong and tough and with Democrats tearing themselves apart there is a chance that huge tax hikes are not a sure thing either.  Seems like an improving scenario to me as gold bites the dust!!

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