Bespoke Investment Group asks a provocative question Monday morning:
“…at its lows overnight gold was down more than 20% from its September high, which meets the technical definition of a bear market. Given the circumstances of the market, who would have thought that gold would beat the S&P 500 to bear market levels?
With the precious metal GC1Z back down $50, below $1,600 an ounce, on the latest housing data, it may yet get to close in bear teritory.
Silver SI1Z is also joining in the metals slump, falling $1.70, to $28.40 an ounce.
