Market Vane bulls on gold are at nearly a decade low. This jibes with my observations that sentiment regarding gold is about as bearish as I've ever seen it (and believe me, I've seen times when gold was hated -- such as back in the period around 1971-72). On Bloomberg TV recently, the commentators were actually gleefully bearish on gold, and they went to great lengths to show that gold has done little or nothing since the first of the year.
I am beginning to agree with those who claim that a lot of the gold that has supposedly been stored at Fort Knox and West Point and at the Federal Reserve bank of New York is simply NOT THERE. Where are the blessed audits? Where's the proof that the gold is there? I suspect that the talk of "missing gold" has some substance behind it. Why not end the recurring rumors ... Log in or subscribe to continue reading.
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