by Sasha Cekerevac, Investment Contrarians:
One of the most difficult things to do as an investor is to buy when others are selling. This is the most common mistake investors—both the retail public and some professionals—make.
The recent move in gold shows the difference between short-term and long-term thinking. While many investors were hesitant to step in and start buying gold as the price was dropping, many central banks were doing just the opposite.
Recently, Russia continued buying gold; China and India followed suit, taking advantage of the significant pullback in gold prices. While exchange-traded funds (ETFs) were busy selling gold bullion, many of the emerging market nations were buying gold and in significant quantities.
It goes beyond central banks buying gold for reserves, which they continue to do, but even jewelry demand for gold continues to increase.
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