“Michael Lombardi writes: Gold bullion prices started their run-up way back in 2000, when the commodity was trading around $300.00 an ounce. From there, it took the precious metal 12 years to break above $1,900 an ounce—an unprecedented move. When an investment, such as gold bullion, rises 500%, a pullback in the “advance” is quite normal.
The fundamentals of the precious metal’s charge haven’t really changed. Demand for gold bullion is strong, while supply is actually dwindling as gold miners cut back on production, adjusting for lower gold bullion prices.”