Despite Ugly Market, Precious Metals Are Getting pummelled

This is the point that you realise that all the talk about gold being a hedge against “uncertainty” is nonsense.

With all the ugliness in the market of late (China, California, Ireland, Cisco, etc.), you might think that the precious metals might have caught a bit. Ha.

Here’s silver over the last few days.


And here’s a chart that looks very much post-bubble:


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