The Market Is Getting Ugly, And Gold Is Getting Hammered

hammer iron smith

Photo: Wikimedia Commons

UPDATE:Dow now off 170!

EARLIER:

Getting hairy!

Dow off 94

S&P off about 1%

Gold is going down over 1%

What’s not helping markets?

  • Bad Philly Fed number.
  • Goldman short call
  • Goldman implication that the Fed is done easing.
  • Chatter about a Moody’s downgrade of world banks.
  • A game of chicken between Greece and Europe that’s just now heating up.

For the nut of Goldman’s short call, see here >

And here’s a chart of gold.

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