Making Money Alert
A Precious Correction
09/28/2011
Over the past three weeks, there’s been what I call a “precious” correction taking place. The precious I’m referring to is precious metals like gold and silver. These once high-flying shelters from the equity storm now have been swept up in the selling, and that’s put a big frown on the faces of gold and silver bugs around the globe.
Take a look at the two charts here of the SPDR Gold Shares (GLD) and the iShares Silver Trust (SLV). As you can see, both have seen a collapse in share price since the first week in September.
Many observers of the precious-metal sector are wondering why the sell-off has been so fast and furious of late. I suspect the main reason is that gold and silver prices have climbed so high that they were overdue for a correction. Given the volatile nature of precious metals’ trading, we were bound to see any pullback in the sector become a swift and steep correction.
Ironically, I recently wrote a special report on gold and precious metals for subscribers to my Successful Investing newsletter. In that report, I talked about the potential for just such a swift correction in precious metals. I also talked about the buying opportunities that could arise from such a sharp pullback.
If you’d like to find out more about how you can profit from this precious correction, then I invite you to check out my Successful Investingadvisory service today.