Is this a riddle? No. What do gold and the price of tea in China have in common? They are both falling. The question is why. And the answer my friends, is blowing in the wind, the answer is blowing in the wind.
Actually, I dont know the answer, which is why I am reaching out to my readers, who are smarter than me and probably smarter than a third grader too. So, for those of you who have been selling your gold, you might want to buy it back, because the price of gold has plummeted. And I mean like a ton of gold er bricks.
Why has the Price of Gold Dropped?
I dont know. Thats the truth. Let me tell you a true story about what happened on Monday, which happened to be a really bad day, right?
First, the tragedy happens at the Boston Marathon. Two bombs explode and three people are dead, one of them an 8 year old boy. There are so many critically injured people and what is one of the oldest marathons in the country and something that has been celebrated is now marred.
Second, I bought a bunch of gold at $1526 in the mid afternoon. By the early evening, gold had gone down to $1330. Right now as I am typing this, gold is at $1368. I got my ass handed to me. Thats right. My ass was handed to me.
Third, China reported an economic slowdown, which in turn caused the stock market to drop, which in turn caused a bit of panic to spread, which in turn caused my wife to freak out, which in turn caused me heart burn!
Fourth, there was a HUGE screw up on eBay, where not only had the wrong pictures been put up with the wrong listings, but the wrong sku numbers and prices and descriptions were put up. And, then both items sold and I got a phone call from a VERY irate woman who felt like I was trying to screw her over. I promise Im honest!! And, I had to figure out what went wrong, which was I wasnt paying attention.
Do all of these things have anything in common?
I dont know thats why Im asking the question. Give me your thoughts in the comments; Id love to know what you think.
Does any of this have anything to do with the price of tea in China?
Probably not, but I really do love that saying, dont you?
What Should You Do With Your Gold?
Honestly? Buy it back! Now is the time to buy gold. If you need money, dont sell your gold, it hasnt gone all the way down, trust me.
And, remember, what goes up must come down and eventually it will go back up again I just hope it does soon.
Now, you tell me why you think everything went to heck in a hand basket on Monday this week.