Rickards: “What’s Happening With Gold?”
The gold market — at least the paper gold market — has seen a lot of volatility recently. Gold lost about $80 between August 5 and August 8 before rebounding. Gold gained over $22 today, by the way, to close at $1,753.
Many gold investors are panicked after the recent mini-crash. But today, I want to show you why the case for gold is still intact and why the recent tumble is just a bump in the road.
You shouldn’t let the mini-crash obscure a broader reality. You need to focus on the big picture, not the short-term fluctuations.
Gold has mostly moved sideways for almost a full year.
CLICK HERE to read the full article over at dailyreckoning.com