DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL Message Board

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Gold/Mining/Energy : DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL

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From: PaperPerson	11/18/2011 9:56:19 PM
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Casey Research's Clark: 'Don't Sweat The Correction In Gold' (Kitco News) - Jeff Clark, senior precious-metals analyst with Casey Research, says he’s not inclined to “sweat the correction in gold.” He displays a chart showing a number of corrections of 8% or more over the last decade, with the market eventually moving higher. He notes the September decline was the second biggest in the current bull market, but suggests that barring another 2008-style meltdown, this may signal that the low is in for this correction. “That's not to say the price couldn't fall from current levels, of course, nor that the market couldn't get more volatile,” he says. “It's simply a reminder that when viewed on any long-term basis, corrections are nothing but one step down before the next two steps up. It tells us to keep the big picture in mind. It also implies that pullbacks represent buying opportunities.” He is inclined to shake off worries about corrections until “the fundamental factors driving gold shift dramatically—something that would require most of them to completely reverse direction.”

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