Gold climbs on US dollar sell offs and sovereign debt issues. Folks on the
web say gold will not sell off in the same way silver did stating that gold
is now a currency and not a commodity. FLASH news, gold is a commodity and
one day very soon those that own it in huge quantities will sell a portion
of it just to shake the retail investors out of their positions, so they can
buy more.
And you can bet, when it does sell off the folks on the web will refer to
gold as a 'commodity' and 'sell off' is what commodities do! We caution the
reader as to the history of gold is that it is a commodity and the gold chart
is well represented with 'sell offs'.
The last gold sell off was in 2008 on the financial crisis news, currently
stocks are topping out and if stocks are 'allowed to fall' then gold will suffer
contagion selling. But until further notice gold ETF is in a very powerful
trend, with buyers coming back for more on every pull back.
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