So ohai mentions uncertainity and you mention the debt ceiling fiasco. One would assume the major uncertainity surrounding the debt ceiling debate would have occured prior to congress and the President coming to terms. After an agreement was reached on 7/31/11 wouldn’t you say there was considerably less uncertainty?
Obviously once the agreement was reached there would have been a massive sell off though right? Or a few days later - 8/5/11 - when the US was downgraded? Nope. Gold returned over 12% in the month of August.
But alas even gold doesn’t just go straight up. It did sell off the last few months of the year. Still a nice 2011 though.
This thread is a perfect example of how you just make shit up. I assume you’re trolling…or you’re just an idiot. Just to recap your position, you believe there was greater uncertainity after the debt ceiling debate was resolved, and after the US was downgraded than prior to those events. Then you said gold sank within a few weeks of the downgrade. Why don’t you just take the 60 seconds to actually check the charts?
I have no problem with guys that don’t like gold as an investment in general, or guys that have an actual thesis on why it’s not. The dude a few posts above that thinks USD is trending up long-term? Cool. He has a position. You have no clue.