Both technically and fundamentally there is no damage to gold when you
view the long term trends, the opposite is the truth! This appears to be
nothing more than a shakeout. The trend is not only fully intact but as
strong as it can be. Remember NO market goes straight up. The same cannot
be said for other markets as the S&P500 is technically broken on the
long term technicals and I believe the fundamentals support this as well.
As the old saying goes "DO NOT MISS THE FOREST FOR THE TREES" In
other words don't get so caught up in what is in front of your face that
you miss what lies ahead!
As you can clearly see the long term trend, this appears to be
nothing more than a healthy digestion or consolodation of gains, this
actually prolongs the long term trend as it builds a new support area.
Be a buyer, nothing has changed long term, the only pain is for
the short term speculators. We recommend systematic accumulation, paper
currencies are being diluted by governments who are printing massive
amounts of cash to paper over debt. Gold can NOT be printed and has no
debts or liabilities.
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