Gold Disappoints The Bugs, Says Dr. Joe Duarte

Wed. October 15, 2008; Posted: 09:17 PM

Duarte added: Two days of horrific downside action in stocks in the recent past have come and gone, but gold is still way below $1000. That's not the way the gold bugs would draw that play. And the fact that it happened makes you wonder what was behind the move.

If the world is really in pins and needles with regard to the fate of paper assets, such as stocks, and if money for borrowing is non-existent, then gold would seem to be the natural flight to quality alternative. Yet, it wasn't, a fact that suggests that central banks might have been selling into the fray, or that smart traders just stayed out of the market altogether.

Duarte's conclusion: No matter what, once again, gold disappointed those who were looking to it as a place of refuge. And that's something to keep in mind, as it's possible that this market, and its volatility, will give gold bugs at least one more chance to prove their mettle.

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Duarte partners with the Investors Resource Center at Investrend Information (http://www.investrendinformation.com).

Duarte's IntelligentForecasts.com (http://www.intelligentforecasts.com) provides free news coverage and analysis, and his daily articles and news summaries offer recommendations and analysis for ETFs, and individual stocks in the technology, health and biotechnology, and energy sectors. Duarte has combined expertise in health care, energy, and the effects of politics and global intelligence on the financial markets offer a unique blend of insight and information to thousands of active investors and political and intelligence aficionados around the world on a daily basis.

He is the author of: Futures And Options For Dummies, Successful Energy Sector Investing, Successful Biotech Investing and co-author of After-Hours Trading Made Easy. In early 2001, in Successful Energy Sector Investing, he correctly predicted that Venezuela's political problems could lead to an energy crisis in the United States. He has also appeared as a weekly guest on Market Mavens Radio and has logged appearances on KNX radio in Los Angeles, Financial Sense.com radio, and Wall Street Radio.

One of CNBC's original Market Mavens, Dr. Duarte has been writing about the financial markets since 1990. His articles and commentary have been featured on CBS Marketwatch, Barron's, Smart Money, Medical Economics, and in Technical Analysis of Stocks and Commodities magazines. In 2003, Doctor Duarte received second place, in the professional section, of the Medical Economics Investment Challenge with a 12-month return of 42%.

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