Pinnacle Activity Ticker
Sell your Gold?
Pinnacle Digest writes:
The gold bull market is in the hot seat. Even the die hard gold bulls with maximum faith, find themselves questioning their gold investments in times like these. Gold has deviated from its regular course of hitting new highs every few months. Its resilience in the past 10 years which could be seen by immediate rebounds in price following any sell off has faded recently. Mark Lundeen argues the gold market is on the verge of seeing bulls cave to the bears ability to take gold down, once again.
There is a good chance a 30% decline from gold's most recent high is in the cards. Hold that cringing thought, because what most investors fail to realize is that a 30% decline would be normal. He examines two short term scenarios for gold involving Asian central banks which have had no problem buying record amounts of gold at lower prices.
A 30% decline from gold's most recent high would result in gold trading down to $1300 an ounce. Although this feels shocking, and is a dollar decline of $588, it is all relative. As you look back in history, declines of 30% or more have been routine for the yellow metal.
The lower volatility of this bull market in gold is examined along with the outcome he believes lies ahead for the gold investor.
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