By James Corbett, The International Forecaster:
We’ve been watching carefully over the past few months as gold has been hammered down from it’s $1700 trading range of last fall down to as low as $1200 at the end of June. Many a gallon of printer’s ink (and even more of the digital equivalent) has been spilled mulling over this trend and speculating on where gold is heading from here. Many of the gold bears have used this as an opportunity to crow about the end of the bull market. After 13 years of steadily rising prices, these traders are loudly proclaiming that the gold “bubble” has popped and the market is returning back to pre-2009 sub-$1000 levels. The goldbugs, on the other hand, are trying to rally the troops, bracing them for potential setbacks along the way, but reminding them that gold always wins in the end versus fiat currencies.
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