Yes, I am happy Gold is down a bit today and will be even happier if it loses some more steam. Gold currently is hovering around $1160 per ounce and is seeing 2% lows within the last three months. This is due to some positive reports on the U.S economy.
After doing my morning reading, I sensed a slight bit of panic for those that maybe invested in precious metals. I will explain in the next paragraph why concern or panic is not needed and why downturns are a reason for joy and not sorrow.
When precious metals drop you are getting a bargain when purchasing. When precious metals are up, you are making a return on your investment. If you are holding precious metals for the long term to protect wealth their should be almost zero concern. For those that think that gold/metals will crash like the real estate market, think again..gold has never been worth zero, yet some stocks and currencies throughout history have lost 100% of their value. This fact should provide comfort as well.
Gold falling will not last for long, India's busy season is just around the corner and we should start seeing an uptick in prices around the end of August and into winter. Smile there is a sale going on.
-Blogging4Bullion
Source information
MarketWatch: Gold's two month lows
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