As it is always typical in a bull market, you always have more violent moves down them up. The biggest moves, have always been on the downside over the last 10 years in this gold market rally, and this is no exception.
These violent moves, are designed to frighten people, to get them to think that the bull market is over, to shaken out the weak players. As they say, the bull market takes the stairs up and the elevator down. And that is what`s happening.
Related stocks and ETFs: SPDR Gold Trust (ETF) (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), Newmont Mining Corporation (NYSE:NEM), AngloGold Ashanti Limited (ADR) (NYSE:AU), Harmony Gold Mining Co. (ADR) (NYSE:HMY), Randgold Resources Ltd. (ADR) (NASDAQ:GOLD), Barrick Gold Corporation (USA) (NYSE:ABX), NovaGold Resources Inc. (USA) (AMEX:NG)
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.