Silver, Gold Dip Most in Decades (GLD) (SLV)
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Gold and silver are getting crushed Friday and have been for a while now. But just how bad are things?
According to a WSJ blog post, silver's 18 percent drop to $30.05 per ounce was it's worst dollar loss since January 22, 1980 and worst percentage loss since April 27, 1987. Silver is down about 26 percent on the week.
Gold contracts for September are down 10 percent to $1,637.50 per ounce for the week. The WSJ notes this was the worst dollar drop ($175/ounce) since January 25, 1980, and worst percentage dip since February 25, 1983.
Moral of the story? Mind your SPDR Gold Shares (NYSE: GLD) and iShares Silver Trust (NYSE: SLV).
According to a WSJ blog post, silver's 18 percent drop to $30.05 per ounce was it's worst dollar loss since January 22, 1980 and worst percentage loss since April 27, 1987. Silver is down about 26 percent on the week.
Gold contracts for September are down 10 percent to $1,637.50 per ounce for the week. The WSJ notes this was the worst dollar drop ($175/ounce) since January 25, 1980, and worst percentage dip since February 25, 1983.
Moral of the story? Mind your SPDR Gold Shares (NYSE: GLD) and iShares Silver Trust (NYSE: SLV).
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