Not so fast gold bullsTodays 8% drop in NUGT is just a taste of things to come for gold. Gold will revisit $1050/ounce and then take a run at sub $1000/ounce in the next couple of years. I have been bearish on gold the last few years and will turn bullish in a couple of years when it has bottomed again.
I was extremely bullish in gold and even more so silver 15-20 years ago. But turned bearish 6-7 years ago near the peaks. Money can be made on both sides if you are not stuck with your views in only one direction. I will be extremely bullish in silver/gold, but not yet. Let them bottom first. That being said, one can take a "trade" when there are big daily overreactions, but the trend for silver and gold will be down for the next couple of years.