Most Sectors Slide, but Gold and Silver Shine

The old saw about the market being ruled by fear and greed proved true once again in 2002. Fear of recession, limited corporate profits, accounting scandals and potential military action all put investors on edge and pushed the market to multiyear lows.

In mid-October, investors went on an eight-week buying binge, sending the averages up some 20% to 30% from the October lows. Still, the market is poised to book its third consecutive down year, and most broad measures are still below the levels before the terrorist attacks on Sept. 11, 2001.

Bonds once again proved to be a better place to park your money, as the 10-year Treasury note has gained about 9.7% this year.

Cloudy, With a Gold and Silver Lining

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