A '' -$40 '' pull back in Gold today is sure to panic bullish gold bugs.
As I said in recent posts, a correction was expected.
Equity markets and precious metal markets have had a fabulous run.
The boom in equities was supported on a foundation of stimulus packages, job cuts, cost cutting and ever expanding government debt.
On the other hand, the ten year long bull market in Gold and preciuos metals has a much much stronger foundation.
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I'm watching this space for a buying opportunity. It's choppy out there, and the continuing equity market correction will create more volatility.
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Silver too has corrected quite a bit; down over 7 % today!! As usual, silver is far more volatile than gold.
Silver is down over 14%, over the last 30days vs. a 5.17% pullback in Gold over the same period
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For now, just hang in there!!!
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