If you are watching the precious metals prices this morning, you may be quite dismayed with their performance. Following news that the FOMC may be tapering QE Infinity and that Cyprus would sell part of its 13.9 tonnes of gold reserves to help pay for its share of a bailout package agreed with the IMF, EU and ECB, all metals have dropped anywhere from 2-5% as we speak.
We believe that this is the last gasp of the establishment to discredit gold and create the illusion that everything is OK. Instinctively, we know that it is not. This is a temporary set back in price that we anticipate will rebound.
Sit tight and buy the dips!