Two mainstream outlets featured analysts arguing that Wednesday’s drop in precious metals is short-term, with one telling CNBC that “This is a buying opportunity for many investors who were worried that the train left the station and they weren’t involved,” and another saying that “People are reading too much into Bernanke today and using it as a reason to take profits. I don’t think that we’re coming to the end when it comes to liquidity and quantitative easing.”
And a CNN Money article asking, “Did Bernanke kill the gold rally?,” is answered by one analyst who says that “gold still looks strong,” and “what the rebound on Thursday shows you is that investors used the dip as an excuse to get back in to gold. The move didn’t seem to do any psychological damage.”
Dow Jones: Gold steadies, silver climbs after selloff
MarketWatch: Gold gains 0.6%; silver rallies nearly 3%
Trader Dan: Silver back to knocking on the door of chart resistance again
Forbes: After gold’s no-QE3 plunge, market clear for another rally
Jesse’s Café Américain: A single large seller smashed the gold market yesterday: Dr. Evil strategy?
KWN: Hugo Salinas Price – Central banks smashed gold
The Victory Report: David Morgan: Aliens want your silver
Jim Sinclair: Wednesday was a cover-up by the Fed and mainstream media
TF Metals Report: Malicious intent
The Hill: Bernanke warns lawmakers country headed for ‘massive fiscal cliff‘
Zero Hedge: John Taylor warns of a “Highly disastrous, totally uncontrollable inflationary conflagration“
Casey Research: Is gold backwardation now permanent?
Gold Scents: U.S. stock market: Will it ever correct?
Zero Hedge: Next leg of the ponzi revealed – Foreign central banks to begin buying U.S. stocks outright starting today
DollarCollapse.com: Dollar going out with a whimper, not a bang
GATA: To end the Fed, Paul will have to start questioning it