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Steady As She Goes

Friday, August 26, 2011, 9:05 AM
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The recent pullback in gold and silver have not fazed me in the least. I consider the pullback to be a buying opportunity for those who got caught watching the meteoric rise in gold (and to a lesser extent silver) over the past month and a half. I would not advise selling any of your physical holdings into this engineered decline.

As I predicted, (not really a prediction; more of an observation over time), both metals are performing especially poorly in the US Comex paper markets, but do reasonably well in all the other world markets. So far that pattern has held true. I firmly believe that if gold did not trade in the US markets, it would already be well north of $2,000 an ounce.

 

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