A Gold Rally Without Investors? (page 36 - 39)
”In 2011, a decade-long bull market in gold shares finally persuaded investors to buy—just in time for a crushing downturn. Those same investors today are selling into strength, a strategy we believe will prove no more rewarding. A bull market in gold shares is unfolding without them, which is precisely why we think the broader gold bull still has years to run.”
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