31st August 2011
The last trading day in the month can cause some interesting activity , flattening of trading books, repatriation of funds and cross currency hedge realisation all combined with the potential for macro comments can cause extreme volatility. The stock markets are down for the month but they could be a lot worse.
Gold goes down $100, goes up $100, goes down $70 goes up $70. Safe haven buying or whatever you want to call it, but something that does not deliver value unless it goes up will be a dead weight when and not if the equity markets start shinning again.
Cash is and always will remain KING.
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