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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (26335)2/13/2005 4:36:55 PM
From: dara  Read Replies (1) of 110194
 
An excerpt from Pierre Lassonde's The Gold Book published in 1994 (pg 85):

"On Black Monday - October 19, 1987 - while the stock markets around the world plummeted, the price of bullion actually rose. The TSE composite index dropped 11.14 percent, but the gold stocks in the TSE gold subindex only lost 8.8 percent. It was a temporary reprieve. Bullion kept climbing in price, but within days gold stocks were decimated. By mid-November they had dropped 44.3 percent from their August peak. In the weeks that followed, bullion kept moving until it finally peaked at U.S.$503 in December and gold stocks spun around to regain 37.5 percent of their losses."
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