Mark Leibovit’s Daily Gold Comment

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GOLD – NEUTRAL
Gold nosedived to 1665 intra-day on Monday and predictably bounced back to 1700s yesterday. With minor exceptions volume remains somewhat negative. So, though I’m a big-picture BULL, I prefer to sit this one out on the sidelines awaiting further confirmation of a bottom. Downside risk is still to 1600 or even lower. That said, you know I have never advised selling your physical metals. Primarily, I feel the day is not far away when you will not be able to get your hands on or will be prevented from acquiring the physical metals. I thought silver acted particularly well yesterday – demonstrating some healthy upside volatility. You should be dollar-cost-averaging both silver and gold in preparation for the explosive upside moves ahead. These moves could begin at any moment whether that moment is two days away or six months away. You’ve got to get into the game! When the party resumes, it will be a sight to behold.

Is Gold Still the Answer for Investors?

"There is no reason to fear gold pullbacks and every reason to expect even more positive returns in the gold mining stocks that are still catching up to the rapid gold rise."