When a market does not rally on good news it generally means it is overbought or ready to go down. And the people might have jumped on the failure of gold to sustain a big rally on what was perceived to be good news for gold as bad news. So that might be one of the reasons that you have the selling. To me that is a non event.
I do not buy gold because I am worried about a terrorist attack, it has nothing to do with the reasons I buy gold. I would not rush to buy gold because there was a terrorist attack. Why would I? Because when the attack is over the price goes back down. So it does not make any sense.
The real reason I buy gold has to do with inflation, the central banks creating it, artificially low interest rates, negative interest rates, quantitative easing, all of these things.
Related trading instruments: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX), NovaGold (NG)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
- ► 2017 (145)
- Yellen`s Dovish Speech is Bullish For Gold
- The Fed Cannot Raise Interest Rates
- The Recent Gold Sell-Off Explained
- We Will Go Back To A Gold Standard
- U.S. Dollar: The Trend Has Reversed
- Why Gold Traded Down Today?
- U.S. Dollar: The Chinese Recognize The Mistake
- The American Consumer Is Not Confident
- Markets: U.S. Dollar, Dividend Paying Foreign Stoc...
- Silver Stocks Are Doing Even Better Than Gold Stoc...
- Silver Stocks Are On Fire
- The Federal Reserve Keeps Pretending That The Econ...
- This Commodity Move Is Real, We Are In A New Bull ...
- U.S. Dollar: The Fed Is About To Launch A New Easi...
- U.S. Elections: There Is No Chance Hillary Would B...
- The Economy Is Rapidly Losing Momentum
- QE4 Will Push Commodity Prices Up Even Faster
- Commodities: The Supply And Demand Dynamics Are Be...
- Commodities Are Going Higher
- Commodities Are Turning
- U.S. Economy: We Are Already in A Recession
- Will Draghi Take Europe Deeper Into Negative Rates...
- The U.S. Will Monetize The Debt Eventually
- All of America`s Creditors Are Going To Stop Lendi...
- Markets: Is The Bottom In? Depends On The Fed.
- Economic Problems Are Made In America
- The Fed Wants Inflation And They Will Get It
- Even Jim Cramer (CNBC) Can See There Is A Recessio...
- ▼ March (28)
- ► 2015 (344)
- ► 2014 (429)