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May 6, 2013 / Jeb

Don’t Be Fooled By Gold and Silver Correction

“The main purpose of the stock market is to make fools of as many men as possible.”
Bernard Baruch

The majority of investors continue to chase the equity markets and U.S. dollar higher which both look very overbought.  Despite these high priced,  risky levels, gold, silver and platinum are testing strong areas of support and multi year lows.

The Venture is testing 2008 lows and near 2003 gold valuations of a ridiculous $400 an ounce.  Don’t be fooled the majority of investors selling their resource shares for pennies on the dollar to chase the overbought equities, could be capitulating at exactly the wrong time.

The Venture is cheap priced at $400 au/oz.  This is a ten year low testing 2003 levels.  Gold is more than 50% higher than its pre credit crisis highs, the S&P 500 is now breaking through 2007 highs and the Venture is still discounted more than 70%.  The Venture appears historically mispriced and discounted indicating its buying time for long term value investors, not selling time.

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