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By David Keene
Conference showed that the values Reagan cherished still endure
Topic - Eric Schaefer
Gold's rise seemed unstoppable at one point, but millions of fanatics got a jolt last month when the market posted its biggest collapse in 30 years, including a 9 percent one-day drop to less than $1,400 on April 15.
he said, noting that gold purchases in India and China — which together generate more than 50 percent of world demand — picked up when the price fell last month.
"Whoever started swatting at the gold bugs proliferating worldwide may find the infestation none too easy to control," said Eric Schaefer, an analyst at American Independence Financial Services.