Speaking of a developing stories, thankfully precious metals took a well-earned breather last week, after a hard run-up in recent times.

As we noted two weeks ago, it was Gold producers that led the spot price down. 

This sure would have given the old “Bare Foot” type non-believers some relief and, perhaps, belief that it was all just a dream, again.

For most mainstream financial commentators, the “store of value” concept, as it relates to gold, is just too hard to understand; especially if one’s definition of economic history is limited to the last 50 years.

Cripes, even Warren Buffets Berkshire Hathaway has joined the gold dots.

Their (Berkshire) latest filing included further selling of US Financials and the commencement of a 20 million share position in Barrick Gold (formally the world’s largest producer), which was valued at $564 million at the end of the period.

Opportunistic? Maybe. Do we know how far Gold could correct? No, steadied at USD1950 pretty quickly though.

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