Gold’s sell down finally revealed.
Gold rebounded today. Right now the ExactPrice app is showing gold at $1,338.30.
A lot of people have been trying to figure out what happened in the precious metals markets this week. Well one of the key factors was pointed out to me from the most excellent market analyst Peter Grandich here: Meet The Man Behind The Liquidating Hedge Fund That Blew Up The Gold Market.
That explains a lot and begs the question, should a market, any market, be so affected by such a hedge fund?
King World News has a must read as will in regard to silver: All 100 Ounce Silver Bars Will be Gone in a Matter of Days
Another must read comes from David Engstrom at Lear Capital: Budget Goals Could Seal Deal for Higher Gold Prices
While there, be sure to check out Eric Harding’s: Analyst John Mauldin: If it looks like they’re making up the rules as they go along, it’s because they are.”
Have a good weekend and I leave you with this video which should give you some insight into the coming year.