oldgoldbug

Countdown of Manipulated Gold Price Running Out

Gold here at $840+/- is under massive selling pressure as the only real source of funds for investors besides Treasuries. That gold has held up so well is truly remarkable. Even the mining stocks have taken terrific beatings. This looks like a normal correction in a bull market. Perhaps it goes to $650-$700, perhaps not. The risks of not owning gold far outweigh the risks of it falling another 15-20%. Besides, investors holding a diversified portfolio will be doing pretty well in their other investments if their gold drops. Right now holding gold looks pretty good compared to the performance of other investments.
The performance of the mining stocks and futures markets reminds us that nothing substitutes for owning physical gold.
Given the massive movement into gold, it is clear many investors are considering an integral part of their portfolio. As a bit of a curmudgeon, I wonder if we won't see a nice plunge just to test the "cojones" of new converts.