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Gold down over 4%

Gold prices are free falling today - the spot price is down over 4% to almost $820/oz. Indian prices are now below Rs 11,200 per 10 gms.

Click to enlarge

The Philadelphia’s Gold & Silver Index (XAU) index is down over 6% tonight, and my position in gold mining stocks is going to get hit, especially after I bought a few more units of the DSP-ML WGF! Fear not - I intend to further scale in.

Why be a glutton for punishment? Because the time to buy is when there’s blood on the streets! :)

This entry was posted on Monday, August 11th, 2008 at 10:12 pm and is filed under gold, trading. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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