Huge Price Drop Alert _ If You Own Gold and Silver Watch This - Garry Wagner

Описание: According to market analyst Gary Wagner, the recent price action in precious metals has been misinterpreted by some as a reversal. Despite gold hitting an all-time record high close on December 26th at 4547 (basis February futures) and subsequently dipping to 4313, Wagner argues this "little tiny dip" does not qualify as a correction. In technical terms, a true correction involves a sell-off of 23% or greater.
Wagner points out that silver exhibits similar strength; while it moved from a high of $80 down to $70, this $6 decline is not a viable percentage given the move started from $30. He suggests that precious metals are currently "running on all cylinders" as investors increasingly favor assets with intrinsic value over fiat currencies. While he warns that a real correction could occur if major players liquidate positions, the current momentum is so strong that traders are simply "buying the dip".

CREDIT: Kitco NEWS
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