On Friday we witnessed a great plunge in gold (almost $80 – from $1,560.30 to $1,480.50) and silver (almost $1.70 – from $27.58 to $25.89) and we are seeing even lower prices this week. Does it mean the bull market for gold and silver is gone for good?
Since silver and gold topped in 2011, investors have been struggling with theirs positions hoping this cyclical bull market for metals will continue. The simple truth is no one knows for sure if prices will continue and make new highs.
It seems everyone has an excuse for why the miners have underperformed lately. Needless to say I don't really buy any of that nonsense. However, I am as confused as everyone else to come up with a reasonable explanation for why miners continue to sell for these ridiculously cheap valuations.