It’s happening again. Gold and silver are lin liquidation mode.
Both of the two precious metals are back to being taken to the woodshed.
Gold looks at risk of breaking below $1400/oz. again.
And silver is just plain ugly.
The end of the world trade (which explains a lot of gold’s appeal) is looking less and less likely to play out as the precious metal bugs had anticipated. Meanwhile, improving economic fortunes makes it less appealing to have money in rocks. And big picture, now that the rally in gold is no longer seen as bulletproof, there just isn’t the same speculative excitement.
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