In Bloomberg TV’s interview with HSBC’s FX Strategy Head yesterday, HSBC claimed that the gold bear market is over and that it is time for investors to get back into gold. Click here for the link to that interview.
I responded this morning by stating that such a claim could not be further from the truth, as buying gold now would simply be a bull trap!
Whoever wanted to buy gold should have bought gold along with our premium subscribers back in December when I called the forecast for it to have an amazing rally through around mid-February, not now!
Gold was around $1,060 an ounce at the time and rallied by 19% in just a few weeks to $1,263+.
There will be a time to buy gold but it is not now!
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