Massive Fear In Gold Means We May Not See A Correction!
- Massive Fear In Gold Means We May Not See A Correction!
by www.kingworldnews.com
Today 25 year veteran Caesar Bryan surprised King World News when he said that everyone is looking for a correction because of the increased commercial short position in gold, so we may not see one. Bryan, from Gabelli & Company, stated, “… because of the overwhelming fear of a correction here, it may not happen.”
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Here is what Caesar had to say: “I think all of the worry about the commercial short position in gold and silver is just short-term noise. To the extent that can help in somebody’s trading activity that’s fine, but it’s not something I am concerned about in the long-run.”
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“We are a little bit overbought in gold, but the fact that a lot of people are talking about the commercial short position and a coming correction, as a contrarian, to me this means it may not happen. I’m picking up quite a bit of chatter where people are worried about the short-term. Let me just say once again that because of the overwhelming fear of a correction here, it may not happen. Right now it’s very healthy because as I see it gold is climbing a ‘wall of worry.’….
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