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Gold Surges To Near $1,250, As Stealthy Flight To Safety Accelerates, Stocks Oblivious

Posted By admin On August 31, 2010 @ 9:52 am In Money Watch | Comments Disabled

Tyler Durden
Zero Hedge [1]
Tuesday, August 31, 2010

As stocks continue to correlate with exactly nothing, and are once again lost in their own HFT dreamworld, which fools Atari in believing the toxic crap it is churning millions of times each second is worth something (and the exchanges gladly continue to pay liquidity rebates for said churn), the capital continues to quietly flow to safety.

The EURCHF is now persistently hugging the 1.29 line, which a mere month ago would have sounded like suicide for the SNB, the 2s10s30s is unchanged on the day, as the treasury complex refuses to budge, and lastly, gold, which has surged from $1,234 to almost $1,250, as ever more money is put into safe assets.

As usual, stocks (especially the high beta variety) are the last to get the memo. Once they do, the snapback will, as usual, be vicious.

Gold Surges To Near $1,250, As Stealthy Flight To Safety Accelerates, Stocks Oblivious Gold%208.31

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URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/article/gold-surges-near-1250-stealthy-flight-safety-accelerates-stocks-oblivious

[2] Dollar Rallies, Stocks Struggle. Is the Flight to Safety Back On?: http://www.prisonplanet.com/dollar-rallies-stocks-struggle-is-the-flight-to-safety-back-on.html

[3] Gold Soars To Near Six Month High As Silver Overtakes Stocks In 2012: http://www.prisonplanet.com/gold-soars-to-near-six-month-high-as-silver-overtakes-stocks-in-2012.html

[4] European crisis spurs flight to safety: http://www.prisonplanet.com/european-crisis-spurs-flight-to-safety.html

[5] Treasuries, Gold Rally as Stocks Retreat on Economy Concern: http://www.prisonplanet.com/treasuries-gold-rally-as-stocks-retreat-on-economy-concern.html

[6] Oil Jumps to Two-Year High, Gold Reaches $1,400 on Mideast; Stocks Decline: http://www.prisonplanet.com/oil-jumps-to-two-year-high-gold-reaches-1400-on-mideast-stocks-decline.html

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