Ron Paul on Gold's Recent Downturn - 5/28/13Submitted by fonzdrew on Tue, 05/28/2013 - 19:12
“It is up and down, and it has been doing that a lot lately, Ron Paul said during an interview with Kitco News at the Metals and Minerals Investment Conference in New York . “If (investors) are in gold for a short time to make a quick killing that ought to make them very nervous.”
DR. Paul said that historically there have been high periods of volatility but it is important to look past these short-term corrections. Looking back, Paul reflected that in the 1970s gold went up to almost $200 an ounce then plummeted back down to close to $100 an ounce two years later.
“Everybody thought the world had ended for gold, “he said. Paul added these should have been seen as simply corrections in a roaring bull market.