With both gold and silver gaining on Tuesday as U.S. stocks nosedived, in what was seen as a “remarkable divergence,” Casey Research’s Jeff Clark asks, “Is the correction over?” Examining corrections and surges in precious metals since 2001, he concludes that “it certainly seems we’re closer to the bottom than the top, and given the fact that both gold and silver have had more than their fair share of recent corrections, we’re buying. In fact, the question in our minds isn’t whether or not to average down, but how much. We’re not going ‘all in,’ but we do think current prices represent a real bargain.”
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