Why Gold Prices Fell and Why It Is “Going Much, Much Higher”

by Jim Rickards via The Daily Reckoning

The coronavirus continues to take its toll on the stock market.

For investors accustomed to “buying the dip,” this is quite a change. As noted macroeconomic analyst Mohamed El-Erian said earlier today:

I understand the inclination to buy on the dip. I understand that the path of least resistance in this market is to bounce up… but I stress, this is different.

Meanwhile, the all-important 10-year Treasury yield fell to a record low this morning as investors continue to pour into safe-haven assets.

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