Yesterday was a record one-day drop in dollar terms for gold prices. The past two days have been a record drop in percentage terms.
So, should investors start getting interested?
Ross thinks there were likely margin calls that helped accelerate the plummet in gold prices. He also notes that the price of gold is really a psychological phenomenon which only works as long as people believe in it.
Ross thinks there is no rhyme nor reason to the price of gold. It could be just as easily be at $2,000 per ounce as it could be at $1,000.