It’s been awhile since we made an addition to the Hall of Shame, but Reuters just made the cut. It an epic hit piece on gold released over the weekend, the intro begins: “Gold: Storeable, durable, trade-able, and best of all, wearable, but now that you’ve slumped to your lowest price in 30 years, here’s a look at the new safe havens around the world.”
While gold is off nearly $600 from its highs over $1900 set in late 2011, it hasn’t even traded to levels seen 3 years ago, much less 30!
Epic blunder by Reuters, or simply massive MOPE against gold they hoped knowledgeable investors wouldn’t pick up on?
You be the judge… [Read more...]