J. S. Kim

Gold Correction Now More Likely than Not

Thanks guys for all your comments. Some of you have very valid points that perhaps I didn't explain enough some of my thoughts but that is the difficulty of trying to express everything in an approximate 500-800 word article. However, you will note a couple of things, that since I wrote this article, gold has dropped from $994 an ounce (when I released this article on my blog, $994 an ounce was the price gold was trading at in the London markets) to a low of $925 an ounce so far. Thus saving nearly $70 an ounce is not a small amount even on a $20,000 purchase of physical gold).

To clarify some points, if I failed to do so in my article, I did not favor selling any physical gold because of this correction because I have yet to sell any of my physical gold. I will keep holding on through the temporary corrections until the mania phase arrives. I wrote this article as a warning to those seeking an entry point (again remember I released this article when gold was trading at $994 an ounce) or for those seeking to add more to existing positions.

To further address others that wished I had discussed in more detail some of the issues I briefly mentioned in this article you may note that I've written more than 40 articles about gold since 2006 on my blog so perhaps you can find more answers in my own blog archives at www.theUndergroundInve.... If you reference these articles, you will discover that I am still very much a LONG TERM gold bull, have always been for many years, and my above article does not sway my long-term bullish outlook for gold.

All the best.