The Gold frenzy hit a brick wall on Friday evening, price having got up to 4,380 at one stage. A consolidation, maybe for many months, is needed here as price is way ahead of itself.
Images of queues in front of bullion dealers is testament that retail has FOMO big time.
We’re keeping 100% long position and would look to add further at 3,500 if we get down there.
This train has a long way to run, maybe another 8 years.