The lofty US stock markets have stalled out, looking more and more top-heavy with each passing day. This is spawning growing unease among prudent investors, who sense the long-overdue major selloff is nearing.
Gold’s sharp selloffs since mid-March have been mostly driven by American futures speculators’ heavy selling. These traders dramatically slashed their long bets on gold while ramping up their shorts.
Gold is bottoming, showing incredible resilience over the past 7 months. After suffering an epic plunge in last year’s second quarter, gold has held its ground ever since.
