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Gold Trader: “If You Put 60-Inch TVs On Sale For $100, They’ll Fly Off The Shelves, That’s What’s Happening In Gold”

by Tekoa Da Silva, Bull Market Thinking:

Following last week’s panic sell-off in gold (and resultant explosion in physical buying worldwide), one of the world’s top gold traders and recent interview guestGary Savage, shared some powerful commentary on the psychology of these buyers.

Gary said, The buying frenzy we’re seeing in the gold market isn’t dumb money buying at a top. This isn’t the same thing as we saw in the real estate market in 2006 and tech in 2000. That was every Tom, Dick, Harry and Jane chasing a parabolic move expecting to get rich quick with no effort. That was people looking for a free lunch.

We don’t have those kind of conditions in the metals market at this time. On the contrary gold is making new lows, not new highs. There is no parabolic move, and there never was. In a true bubble, a market will increase 200-500% in a year and a half. Oil doubled in a year and a half. The Nasdaq tripled. Gold was barely able to pull off a 170% increase over a three year period. That isn’t even vaguely parabolic.

Read More @ BullMarketThinking.com

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