The same phenomenom has been evident in the S&P500 for the past decade as well.
MG
Gumby wrote:
Fascinating... An overnight gold fund has been skyrocketing — with a 43% annualized return. It's a huge difference when compared with buy & hold gold.
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And intraday gold has actually been going down since 2001.
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Read the article for a perspective on the phenomenon:
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
I suppose it is just a net flow from west to east. People in the west are getting poorer and selling stuff and people in the east are getting richer and buying stuff.
"Good judgment comes from experience. Experience comes from bad judgment." - Mulla Nasrudin
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