There was a Reuters headline yesterday suggesting that the gold price was down based on renewed hopes of a faster than expected economic recovery.
Which sounds plausible, but leaves an inaccurate perception of what's really going on. As Dave Kranzler of Investment Research Dynamics explained yesterday on his weekly silver and gold market update.
Dave Kranzler spent many years working in various Wall Street jobs. After business school, he primarily traded junk bonds for a large bank. Dave graduated from Oberlin College with majors in Economics and English and he also has an MBA from the University of Chicago, with a concentration in accounting and finance. Currently, he co-manages a precious metals and mining stock investment fund in Denver. He has nearly thirty years of experience in studying, researching, analyzing and investing in the financial markets. His daily articles can be found at his site, Investment Research Dynamics.