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To: ms.smartest.person who wrote (2784)	8/22/2007 8:16:12 PM
From: ms.smartest.person	of 3198

What's Going Down With Precious Metals? Posted on Aug 21st, 2007 gold.seekingalpha.com Larry MacDonald submits: As cracks appear in the financial system, precious-metal mutual funds have recorded the worse performance of all sectors on the Toronto Stock Exchange. The decline over the past month has been more than 20%, according to Morningstar.ca. Shouldn’t there be a flight to gold at times like these? Didn’t gold enthusiasts tell us to have 5% to 15% of our assets in gold as a hedge against the risk of financial meltdowns? So much for the negative correlation between precious metals and the stock market, at least in this particular instance …. One explanation is that hedge funds stuck with illiquid sub prime mortgages are scrambling to raise cash by selling liquid assets, including precious metals.

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