Thursday, May 6th, 2010 will go down in history as one of the most bizarre days in stock trading history. How is the price of gold affected?

Historical Market Drops

Sure, there have been other days that have seen bigger drops:

• Black Tuesday, October 29th, 1929 saw the Dow Jones Industrial Average fall 12.8%
• Black Monday, October 19th, 1987 saw the Dow Jones Industrial Average fall 22.6%

By comparison the performance on May 6th, 2010 may seem feeble by comparison especially since the market recovered with a net loss of 3% as tracked by the S&P 500 index. Why then is May 6th significant in the big picture and how are gold futures and prices affected?

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