Mickey Fulp, Mercenary Geologist, on What Took Gold Down
Gold had a bit of a rough ride in 2014 start of first half of the year on positive note. But then US dollars started rising and took the price of gold down in UD dollars not in most other currencies. What we’ve seen since December 19th is a positive correlation with a dollar index rising and a gold price rising. The only time I know that’s ever happened in the recent past was January and February of 2009. And that indicates a lot of fear in the market and people are running to safe havens in this case of US dollar and gold.