Morris and Oakley agreed that gold is not in the short-term bull market at this time, but Morris is confident that goldwill regain its strength.
“It was very overbought in September, but the same situation happened in ’06 and ’08. On both occasions it took 18 months to flush out,” Morris said. “I think we’ll certainly get a new high in the gold market—It ain’t the peak yet. Bull markets don’t die with a whimper.”
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