Jeff Pierce

Gold: Still Further to Drop

Huge Jim Rogers fan here, and when the charts of gold turnaround I'll be right there, but I just don't want to be too early. The folks over at financialsense.com have been preaching gold forever now, and look at where it would have got anybody buying and holding onto gold right now. Remember, I'm a big fan of Jim Puplava, and he's often right, but he's also almost always early.

Gold: Still Further to Drop

It's more of an observation as I'm not trying to predict that gold is going down more than it's likely to see new lows and it did drop 4% today(Thursday). Combine that with the extreme weakness in ETF's GLD and SLV, and the gold producers I see now reason to become bullish about gold at this moment.

I was very bullish on gold in September when I thought it would act as it's traditional safe haven, however when it fell day after day I began to think something was very wrong with this picture and have looked for further losses in this sector for the near term.