Another day another beating for gold. The yellow metal fell another 3.5% overnight bringing it to prices unseen for almost three years. The SPDR Gold Trust ETF (GLD)
is now down over 25% year-to-date as retail investors find themselves
on the wrong side of what is suddenly looking like one of the great
boom-bust cycles in precious metal history.
As for what's driving the plummet, MercBloc president Dan Dicker
says it's all about Main Street coming to the sudden realization that
there is no safety whatsoever in gold. "When the retail customer gets
frightened, they get frightened in a hurry and they get frightened for
big numbers," Dicker says in the attached clip. (more)Please share this article
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