| Can everyone please stop calling gold a “safe haven” every time the stock market tanks and bullion goes up a few percent? It’s been happening again lately. Last week gold jumped by $80 an ounce as stocks swooned, and the usual “safe haven” claims were wheeled out yet again.
Matt Drudge of the Drudge Report, who certainly knows his readers, even splashed with a panic-buying-of-bullion story. (It came from London’s Daily Telegraph, which certainly knows what stories might attract Matt Drudge.) Yes, gold is up 17% since Jan. 1. It’s a great performance, so long as you don’t look at the long-term picture...............................................Full Article: Source
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