A Critical Juncture
By Jon S. Strebler
Greece and the Chinese stock markets have both pulled back from the abyss, leaving US and other world markets to resume their generally positive paths. That may well change again at some future point, as the Pong-like nature of these markets dominates until proven otherwise. But stock markets don’t require our focused attention at this point. It is gold and the rest of the precious metals group that are in need of close consideration now.
Last week was a tough one for the metals. As a result, gold is at a critical juncture here, where two powerful narratives are battling it out -- only one of which is likely to emerge unscathed. I’m referring to, on the one hand, the idea that when gold ended its long and profitable bull market a few years ago, it started a bearish phase that could last for many years. Matt Kerkhoff ... Log in or subscribe to continue reading.
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