Several Sunday nights in the past I have written posts about gold and silver prices skyrocketing in the middle of the night (in the US) prior to the opening of the US stock markets Monday morning. Spikes in these prices portend a scary day ahead. On a few Sunday nights, prices of gold have gone up more than $10 and sometimes over $50 before trading had opening in the US. Tonight, gold is up (right now) about $7 per ounce. That was a lot of money 10 years ago, when gold traded at $350 (it was a huge 2% move) but is now a move of less than one half of one percent.
So, maybe the week ahead will provide a lull in the huge swings and crazy volatility seen in the past few weeks. I think we all could, as investors of one type or another, use a relaxing week for once in a long time. Let's hope for a quiet week. Maybe it will cause people to come to real estate offices and start buying.
Maybe the Europeans and other foreign nations won't have any major news or collapses. Maybe well see our politicians just be quiet for once (although I am already hearing Obama saying he'll be trying to institute a new tax on 'millionaires' this week.) It would be nice for everyone to remain SILENT for a week or two and allow the market to cool off.
We need stability in the markets and in our politics to get the real estate market and our economy back on their feet. It will be a long wait until next November until we see the rest of the change kick in.
Comments(3)