“This bull market now, since 2001, has had six corrections, this is the seventh one. Nothing unusual at all. I would say this is just par for the course, the climbing of the famous wall of worry and I suspect we are going to have a few more corrections before this bull market is over.
"My feeling is that the gold price will have a bit of a headwind for the coming six to twelve months. It will have headwinds coming from Europe. The Germans are so insistent on deflating the European economies that they are in recession, but they are flirting with, literally, depression. That is not good for gold in the short-run."