Most thought that the Greek elections would bolster stock prices, while precious metals would take a beating. Thus far, this has not been the case. European paper has taken a flogging in both the stock and bond markets. Why?
The reality of the European situation is that no matter the party elected into office, the situation in Greece has not changed appreciably. The only thing that will ultimately make a difference is the timing of the eventual departure of Greece from the European monetary system.
Meanwhile, silver and gold seem to be holding their own, although the perception seems to be that the attack on precious metals will be catastrophic for investors. This eventuality is far from a certainty, taking into account the global “big picture.” Consider atrocious real estate numbers from China, French elections resulting in a Socialist majority, and India’s new “Negative” credit rating, before choosing not to invest in precious metals bullion.
