When it gets really bad, liquidation hits
This isn't an 'in between' market. Every asset is either going to the moon, or down. Gold is sitting on the fence right now and I think if it was going to run higher, it would have happened by now.
Gold is holding tough, up 1% but I think we're close to the point where everyone sells everything and heads to the sidelines. We've seen it a couple times recently and it drags down gold.
I absolutely believe gold is going to be much higher in the months ahead and anyone who can tolerate some volatility should stomach it. As for today, I think that gold is either going to start going parabolic today, or it gives back this 1.2% gain and probably more.
But if you really believe in gold, now isn't the time to get cold feet. As we've seen in the past two weeks, dips are getting bought and that's the psychology of the gold market now now. If there's a dip for a day or a few days, I think those buyers will come back. Gold certainly looks good compared to a 30-year bond yielding 0.95%.
