Gold went down in the last 10 days. I think people started to realize there is nothing behind it to keep it going and as I said before, central banks are going to slow down and may well raise interest rates in the next month or two. When that happens, they will take the fire out of gold.
I own gold. I have not been buying gold for some time but I own it. I still expect gold to go lower. It is not such a surprise because that is how markets work. Gold has been beaten down for four-and-a-half years now and so it is not surprising to have a rally. We have had three or four rallies like this during the past since 2011 when gold peaked. All of them petered out. I suspect that this will peter out too, but that is normal. All markets collapse, have big rallies along the way. Gold has had three or four since 2011.
