Gold Cycle Update
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.