Monday, September 22, 2008
This came in the mail a short time ago. Apparently the nation's largest U.S. provider of mutual funds, servicing more than 23 million investors, is concerned that I might be concerned about my retirement account.
Well, I guess I'm a little concerned, but not much really. I am very concerned, however, about the rest of the people in this country who were counting on much higher prices for their real estate and their stocks to fund spending in their golden years.
On a related note, look at last week's inventory build for the SPDR Gold Shares ETF (NYSE:Arca:GLD). Oddly, the ticker for GLD at Yahoo! Finance has been stuck at last Friday's closing price all morning.
And here's the one for the iShares Silver Trust ETF (NYSE:Arca:SLV). The silver price has been quite erratic lately between the London close and the New York close, but investor demand seems to be quite strong.
There's a pretty good chance that both trusts will see an even higher inventory level as a result of what metals markets are doing today.