Despite Pullback, Gold & Silver Action Remains Constructive
September 4, 2013
With global stock markets on the move, and general weakness across the commodity sector, today acclaimed money manager Stephen Leeb spoke with King World News about the pullback in gold and silver, as well as what investors should expect to see going forward. Below is what Leeb had to say in his fascinating interview.
Leeb: “The gold and silver markets seem to be backing and filling here. We have had a move from under $1,200 in gold, to above $1,400 very recently. So, to see the market come down a little bit and just consolidate is normal and healthy technical action.
It also tells you it’s technical action when the reason being given for the gold market’s decline is that the Indian currency went higher. How much sense does that make? None at all is the answer….