Front-Line Observations From A Seasoned Gold & Silver Bullion Dealer
by Adam Taggart
Spikes and plunges in the U.S. dollar price of gold; this is not new. It goes back to the early 1970s. We remember that for most of the past 40 years, physical gold and silver investors, particularly in the U.S., tended to chase big rallies and buy late, while too often selling after plunges or after long periods of price erosion. today’s gold community starts to look a bit different as the breakdown below previous gold and silver price support levels began, and especially last week, with gold going below $1400. Physical buyers were outnumbering sellers in our store by at least 5 to 1. 80 – 90% of the people who have bought gold from us in the last two weeks on the drop were already gold owners, already gold savers. Their attitude is, gold is on sale. What we have now is a game of chicken between the physical buyers and the paper shorters. It is like, who will quit first?