From Jeff Clark, editor of Casey's BIG GOLD:
The gold price has been rising steadily for almost a year now, with nary a correction. It fell only 4% last month, and the biggest decline since last July was January's 6.2% drop. These barely register as "corrections" when one considers that we've had 18 of them greater than 5% since the bull market began in 2001.
We're getting used to a persistently rising gold price. Any decline is met with more buying, pushing the price to new highs. But how long can we realistically expect this pattern to continue?
The answer will ultimately be determined by the fundamental factors pushing on the price – more Greece, more money-printing, and more economic bad news will all drive gold higher. But even then, have we really said goodbye to big corrections?
History can provide a clue...
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