by Peter Cooper, Arabian Money:
Elliott Wave theorists, and there a lot of technical chartists that follow their work too, argue that gold still needs to put in one last low price before it can be said to have completed the classic wave formation and then power upwards in a big price spike. If so how could this happen? If we look back to how gold behaved in the 2008-9 Global Financial Crisis then the answer is pretty clear. In a really big market sell-off gold will tumble out of bed along with everything else. The good is sold off with the bad in such situations as many investors will have urgent margin calls from their brokers that demand immediate liquidation and gold is always eminently liquid.
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