Gold Futures Advance As Biggest 3-Day Decline Since 1983 Spurs Purchases

This "long-term bull but short-term bearish" rationale never fails to boot the majority of investors from gold train. The secular trend for gold and silver looks good despite the headline fear and apparent "reputational damage."

A retest of the channel breakout represents normal technical action.

Gold, London P.M. Fixed (Gold) and Z Scores of Secular Trend


Silver, London P.M. Fixed (Silver) and Z Scores of Secular Trend


Headline: Gold Futures Advance As Biggest 3-Day Decline Since 1983 Spurs Purchases

“Although not many are yet prepared to dip their toes back in the market, there is a small but growing group who believe this pullback will prove to be a good buying opportunity,” Edel Tully, a London-based analyst at UBS, wrote in a report. “Gold needs to stabilize for now, after suffering a good deal of reputational damage with recent wild moves.”

Source: finance.yahoo.com