From Newsmax:

One of London's leading gold experts has urged his clients to dump their gold and silver holdings.

John Reade, an analyst at UBS, told investors to erase all their positions until the latest upward price surge ends, Ambrose Evans-Pritchard writes in the London Telegraph. Last week, gold ran up to $1,011 an ounce, not far from 2008's record high of $1,030.

Gold has climbed amid the dollar's drop to a one-year low.

Reade says futures contracts on New York's Comex exchange are flashing warning signals. The Comex experienced a surge of 6.4 million ounces in net long contracts last week.

Read full article...

More posts on gold:

Three easy steps to avoid getting ripped off

The secretive group keeping gold at $1,000

The most explosive asset class in the world just hit a new high