Gold’s correction “totally normal,” Superfund director tells CNBC

Is the Gold Correction A Buying Signal in 2011?

Superfund director tells CNBC that Gold’s correction is “totally normal,”

“We saw a normal pullback yesterday [Aug. 24] in the gold price, nothing really different from what we saw in silver a couple of months ago, when silver went parabolic. So this is totally normal,” Superfund Financial managing director Aaron Smith told CNBC. “There’s plenty of breathing room for gold to move around without having a correction or a turnaround. … Everybody’s buying gold, especially in China and India. Retail. It’s like the ’80s and ’90s when people were putting $100 a month into their Fidelity Magellan 401(k) and that drove the market for 20 years.”

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