Yes I am happy Gold is down a bit today and I will be even happier if it loses some more steam. Gold currently is hovering around $1744 per ounce and is seeing 3% lows within the last couple of days due to "cough, cough", positive economic outlook or so they say.
As I sit here writing this, investors are once again sensing panic in the precious metals market and are starting to shout the "bull is over!" I am pretty sure we heard this mantra last year. Concern or panic is not needed and Let me explain why downturns are a reason for joy and not sorrow.
When precious metals drop you are getting a bargain when purchasing. If you are holding precious metals for the long term to protect wealth, you should have almost zero concern. For those that think that gold/precious 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, global economic conditions are way to turbulent for this to be permanent. So I say smile, there is a sale going on.
-Blogging4Bullion
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