When it [the price of gold] got to US $1,900 [per ounce] I feel like that was a little bit of a spike. Now, I don�t think it is a bubble because you have to look at fundamentals. The fundamental price of gold will be much, much higher. But, when any � again, it doesn�t matter if is gold or any other commodity or stock for that matter � when it runs up that far that fast, you can expect a pull-back.
I didn�t necessarily expect a pull back to these levels but it�s interesting we�ve tested kind of $1,250 level three times. And, there does seem to be a floor there. I call it the Chinese floor - they do need to buy at the end of the day.
- Source, Finance News Network:
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