A shocking event has just taken place for the first time in the history of the gold market!
Jason Goepfert at SentimenTrader: “As noted yesterday, gold had declined 13 out of 15 days, a rare level of selling persistence. It dropped again on Thursday, making it 14 out of 16 days. The last time that happened was…never. There has never been this kind of concentrated selling pressure over a multi-week period.”
King World News note: From December 31, 1974 – 1976, the price of gold fell from $204 to $108. Of course it became legal for the U.S. public to purchase gold on December 31, 1974 — the day of the dead high. So the public bought into the white-hot gold market, which had already gone up 6-fold, and then gold went through the multi-year collapse of roughly 50 percent…
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King World News note continues: Yes, the level of frustration is high for some long-time investors, but there is massive demand outside of the United States and big money is circling the entire precious metals sector — that is how bottoms are formed.
The market will turn when it’s good and ready and not a minute sooner. The gold bear market in the 1970s also saw many gold investors throw in the towel in 1976, and there were casualties everywhere in the mining sector. So what we are seeing today is very similar action to the action we saw at the bottom of the 1974 – 1976 cyclical bearish phase.
It is also worth noting that Steve Jobs, when he rejoined Apple (to lead their turnaround), was given a huge chunk of Apple stock. He proceeded to immediately sell every single share of stock he was given. Apple’s stock price has probably gone up 100-fold since that time. Jobs called it “The greatest mistake of my life.” So even the greatest minds are not immune from making critical timing errors.
As painful as this has been for long-term investors, the upside euphoria and mania is still in front of us. For people who can’t handle this cyclical bear phase, they will be shaken out of their positions. The reality is that bear markets are designed to shake out all of the weak hands. We are in the final stages of that process right now. For those who can endure the final stages of this bear market, the upside gains will be one for the history books.
***To try a free 14-day trial of the internationally acclaimed work that Jason Goepfert produces at SentimenTrader simply CLICK HERE.
***KWN has now released the incredible audio interview with former U.S. Treasury official, Dr. Paul Craig Roberts, where he discusses the desperation of Western central planners, the global Ponzi scheme, how it will unravel and collapse, the rigging of the major markets, the corrupt media’s role and much more, CLICK HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Bill Fleckenstein – We May Be Set For A Turn In Gold And A Massive Head And Shoulders Top In Stocks CLICK HERE.
***KWN has also now released the powerful audio with one of the top economists in the world, Michael Pento, where he discusses what to expect in gold, silver, of the year, what surprises to expect as well as how investors can protect themselves, and much more, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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If you are interested in purchasing physical gold and silver for delivery you can call SQ Metals at (406)586-4842, or you can email them at tyler@safetrek.com or info@sqmetals.com
