Is the bull phase in gold and silver over?
The fall in gold and silver prices has been dramatic, the sort of decline associated with a speculative blow-off. What now?
In just three trading sessions, gold priced in dollars has lost over $100, and silver $2. Other than profit-taking after a spectacular run, there are no new factors other than possibly a lull in bullish (for gold and silver) news. Perhaps the “mystery buyer” who led gold’s massive leap above $2100 will be rumoured to turn panic seller, driving values even lower still.
So what should you do? If you bought gold or silver recently, should you take profits? If you were only thinking of buying, is the game over? After all, is safety to be found in short-term government bonds, as we have been taught in all the text books of the last few decades?
Let’s put this in perspective.
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