Gold price crash painful for many: So far today (Mon 4/15), gold is dropping even further into bear market territory, slumping another $95 to below $1400. This analysis says what we’re witnessing is the “…final liquidation of the gold bug.” Many gold bugs have held their positions, citing the 2008 stock market crash and last year’s European debt crisis as proof of how gold is a safe-haven. But events in the last few weeks seemingly shatter this view as stock markets in both the U.S. and Europe are doing well right now.
Today’s marked sell-off gold can be explained in many ways, but one interesting fact noted in this piece is the role Goldman Sachs and CNBC are playing, and how many people are throwing in the towel on gold and investing in the burgeoning stock market.
As the story notes however, cycles in markets are nothing new. A bottom will eventually be reached, at which time, a good buying opportunity will present itself.