The short-sighted perspectives are raging across the newswires and people are believing them. It's astonishing.
Let me get this right:
Gold falls 8% from it's recent record high and all of a sudden, it's the end of gold? Meanwhile, the S&P plummeted almost 19% and that isn't even from a wild run up. The dollar continues to muddle around at record lows, showing no sign of genuine strength or an impending retracement and being down over 17% from it's 3-year high. Treasuries have hit a blistering 13% rally that looks exactly like the 25% rally at the end of 2008, whereupon almost that entire gain was puked back up over the course of the next six months.
Am I to believe that the rally in treasuries is sustainable, but gold isn't when treasuries are backed by supposed reserve of what... gold? Is the suggestion that the dollar is going to find the fuel for a 20%+ rally? And the equity markets are going to be left to languish when they're the most visible indicator of wealth in the country, even though it may be illusory?
Reason and practicality demand attention over desire and whimsy. One day does not make a trend, nor does one week for that matter.
can't you see the parabolic blowoff you talked about has happened? its right in front of your face. how many more years do you expect this 11 yr bull to run? infinity? this is linear thinking.
the waves of bad news for gold will keep coming over the coming months. it will start perhaps with the lack of any meaningful QE from Jackson Hole. then next months Comex opex will disappoint. then the USD will start ramping. then even (get this) an announcement from Ben that the Fed has decided to RAISE interest rates despite what they said.
you've been set up.