Tuesday, September 30, 2008

Wall Street Crashes - Gold Rockets $23.20

NVDL: Gold is a safe haven in times of crisis. There have been some amazing buying opportunities over the past weeks. I'd put my money into oil companies too, even though oil is jumping $10 in both directions each day.

Even if stocks fall and recessions begin, oil can only increase in value as it begins to demonstrate what it is - a finite resource, a precious resource, and the root reality that has exposed our fantasy psychology [unlimited growth and 'something for nothing'] for the fool's gold it always was.
clipped from news.yahoo.com

"It's probably fair to say that we are not going to see any significant stability in the credit markets or the stock market until we see some sort of rescue package passed," said Fred Dickson, director of retail research for D.A. Davidson & Co.


And gold, where investors flock when they need a relatively secure investment, rose $23.20 to $911.70 on the Nymex.


"Things are dying and breaking apart," he said.

Traders on the floor of the New York Stock Exchange watch the boards and a television monitor as the bailout bill votes are counted, Monday afternoon Sept. 29, 2008. Fear swept across the financial markets Monday, sending the Dow Jones industrials down as much as 705 points, after the government's financial bailout package failed the House. (AP Photo/Richard Drew)
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