First i worked in the gold mining industry for 30 years leaving as a mine superintendent.
There is NOTHING strange about gold prices dropping now.
It has done this for every recession that the US has had since gold went back free market in the 1970s.
As soon as the people feel the recession is starting to end gold prices will drop.
Only the smart gold investor knows this and that is how we make our profits.
I got out of the gold market a year ago when this recession started.
now i will invest in stocks till the market gets to around 12000 then i will dump the stocks and buy gold again when its around $400-500 per oz.
About all those market forecasters that claim you should buy gold now because gold will go to $2000 if you look they all sell gold.
they need to get rid of the gold before THEY lose money.
Who will buy this gold.
Any dumb person the believes gold will go to $2000 this cycle.
I look at gold going to $2000 in about 4 more recessions.
about 20 years from now.
History will tell you just what gold will do in the future.
The price of gold has NEVER gone up as the US was coming out of a recession.
Gold has never gone down as the US was going into a recession
Gold is used as a weapon against the countries that get grand ideas, countries like china, india, countries run by oil sheiks. ETC.
Right now china is buying and it will bite them in a couple years.
Any country that buys gold to strengthen there economy does just the opposed.
And china wants to buy 4000 tons.
If you want to make money on gold you MUST know history.