Yesterday’s $40 drop in gold. A gift.
Today, gold jumps back up $30. I have often wondered by gold bulls complain about “manipulators” slamming the gold price. Ah men! If someone wishes to make an uneconomic decision or force weak speculators to sell then they subsidize more rational buyers. Ultimately, for higher or lower prices, the fundamentals will prevail.
If gold is sound money with supply only changing about 1.5% a year then what causes such volatility? The amount of speculative hot dollars jumping from one pocket to the other.
As I grind my way through writing the CSInvesting Handbook, I will not be posting much unless someone wants to share material. I hope to have another chapter in a few days. Thanks.