China to dominate world with Yuan backed by gold, silver
By James West
With technical indicators today suggesting gold could dip as low as US$1,322 an ounce in the current corrective phase, bears and bugs are deploying opinions in-line with their interests. The drop by nearly $100 in ten weeks is nothing new, nor is the strident tone growing in both camps. Its all consistent with the bull market in gold and silver that has been underway for the last decade.
In a pattern that is as clear as the four seasons, the tone in the media presages market sentiment, which segues into market action, then market re-action, classically followed by market price adjustments for over-reaction, which itself engenders a reversal of market sentiment, and a subsequent reversal in media tone. Metaphysical economic ping pong at its finest.
To detail and exact example would render this an unreadable article, because the micro-focus on step by step events could cause migraines. Far better to recognize the pattern from a 10,000 foot viewpoint without zeroing too closely on the details – you risk missing the core message and opportunity.
That is the classic problem with the mainstream financial press, which can only report what is happening right now. Drawing conclusions about future performance from current data departs the realm of journalism and enters that of opinion, and we know how common those are.