Caesar Bryan tells King World News:
“Obviously, for those long of gold this action is very disappointing. You always have to go back to the fundamental reasons why you are holding gold and gold equities at times like this. The fact is the global economies are experiencing a very weak recovery, if at all, and the monetary authorities are still in an easy mode.
"All of this will work to gold’s advantage in the medium-term. At times like this, professionals will revisit why they are in this market and when they come to the conclusion that it makes sense, they will add to or at least maintain their positions.
"I have been doing this for a quarter of a century and I’ve discovered over time it’s a very easy sector for the weak hands to be shaken out...."