Below is a fascinating email from KWN reader about what is unfolding.
2008 Trading vs Today
March 13 (King World News) – Here is a fascinating email from one of our global readers, Kevin W:
Killing gold modus operandi.
Today with gold and miners being hit and stocks up in a relief rally, it looks like Oct. 16, 2008:
October 16, 2008 $XAU dropped 11.4% and gold dropped 4.1%. S&P rallied 4%.
October 17, 2008 $XAU dropped 7.2% along with gold (dropping) 2%. S&P -0.63%.
Miners bottomed October 24, dropping about 22% more from October 17. Gold fell 13%. S&P fell but held Oct. 10th low whereas miners were 33% below it. And gold 16% below its Oct. 10 low.
Remain Calm And Do Not Panic
King World News note: The XAU Gold Mining Index is extremely oversold. Do not panic in these types of market crashes. For those of you who are looking to add to your mining share positions, take advantage of the current panic. Some of you may want to wait for signs of stabilization before adding to positions. Regardless, remain calm and always focus on the fundamentals, which are extremely bullish for both gold and the underlying shares of the high-quality companies that mine gold.
Everyone Needs To Listen To This Interview
To listen to one of the most important interviews of 2020 with Robert Arnott discussing the Coronavirus pandemic, wild trading in stocks, bonds, and global markets, as well as where he is investing over half of his liquid net worth right now CLICK HERE OR ON THE IMAGE BELOW.
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