Categories: Precious Metals
Topics: General Precious Metals

Gold, Central Bank Sales, Time to Buy

The enthusiasm we’ve seen in the gold market these past five months has turned to caution as the price of gold hit its lowest levels in more than seven weeks this week.

Greed is turning to fear, which in turn will lead to even lower prices, as the speculative money that rushed in rushes right back out.

How quickly things change. Just a month ago the usual suspects were telling us the dollar was dying again — for the millionth time. And that gold was going straight to $1,400 and that a rate hike wasn’t in the cards at all, let alone for June or July.

Those of you who have been reading my rants know I thought the gold price would see a quick reversal and one last leg down that would provide the perfect summer to buy into the best companies at the most favorable entry points.

I called it the last fake rally in gold.

Click this link to continue reading on Outsider Club, where this article was originally published.