Looks like we’re heading downhill again. Sigh. However, my Swiss watch which cost $50 a year and a half ago, would now cost $55.37 – much better than the $60+ the dollar devaluation had led to just a few weeks ago.
Metals aren’t doing well – gold closed below $1700, after being higher than $1900 for a few glorious moments a few weeks ago. How things can change on a dime, eh? OTOH, petroleum is a great $79.96 per barrel – which is translating into better prices for gas – a boon for struggling commuters.
Silver really went into the tank, closing at $30.051 a troy ounce. As the WSJ put it: “It was silver’s worst dollar-decline since 1980, the year the Hunt brothers of Texas were forced to liquidate their silver positions after attempting to corner the silver market. At the time, silver tumbled from a record $41.50 to around $12 in just three months.”
These metal price changes can be brutal.
Finally, there is our Model Portfolio. Talk about brutal! Without further comment, here it is: