Midday movers: Barrick Gold, Sprint, Citigroup
Stocks are lower at midday as gold slumps for a second straight session.
Gold is off BIG TIME!
I understand gold as a hedge against inflation, but gold ahs moved up 300 percent during a period of cumulative inflation of maybe 25%. Seems way way overdone, and the markets agree. The gold pushers have pushed fear. Sure, in my opinion we will have inflation due to the feds policies, but gold has moved AHEAD of the inflation. What sense does it now make to buy gold AFTER the horse is out of the barn. The market thinks NONE. Gold has moved on speculation, just one more bubble. And the gold pushers are happy to profit on people's fear and to create the bubble. Think 1980.
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The company has made at least 4 acquisitions in the space, and few people have paid any attention.
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