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Gold price correction likely to continue; may touch a new bottom: Jim Rogers

Posted on 30 May 2013

A correction in precious metals was long overdue, which I have discussed with you and others many times. Gold was up 12 years in a row, which is extremely unusual for any asset. I don’t know about any asset in history which was moving up for 12 years without a declining year. So gold was overdue for a correction.
Normally things correct 30-40% every year or two. So, the anomaly in gold was the price action for 12 years. Now hopefully we are having a long overdue and necessary correction. It may take a bit longer for gold to make a new bottom or sound bottom, and then the bull market will continue………………………………………..Full Article: Source


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VRS - who has written 38089 posts on Opalesque Commodities Briefing.


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