And as for the correctino in the POG , this about the 7th major correction in the 12yr bullrun. Those new to the game may be wetting their pants and thinking the sky is falling in, but more seasoned investors in the sector are just going through the motions, looking for buying opps.
I borrowed this from OUrlady on the gold thread, showing a few of the major corrections we've endured thus far:
June 2006 to November 2006 - Gold fell from $US 722 to $US 562 - Down $US 160 or 22.2 percent
April 2008 to November 2008 - Gold fell from $US 1005 to $US 705 - Down $US 300 or 29.9 percent
August 2011 to April 2013 - Gold has fallen from $US 1892 to $US 1501 - Down $US 391 or 20.7 percent
Nothing has changed in any significant way for gold. This correction is not out of the ordinary for gold. Each of these major corrections proved to be great buying opps for gold stock and smart contrarian investors will be buying into this decline.
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