Precious Metals Test Patience
Since we sold most of our precious metals positions for profits at the market top on Feb. 28, this correction has now slightly exceeded the amount of time it took for the metals to rally off their lows of 2011. However, this does provide a nice Fibonacci 1:1 time ratio between waves 1 and 2.
Additionally, some of the most staunch of gold bulls, among them Dennis Gartman and, now, Marc Faber, have become publicly bearish on gold, and believe that it is in a larger bear market with much lower to go. "Gold may not perform very well in the near future," Faber said, venturing that the price "probably overshot" when it topped $1,900 last August....1126 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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