Gold is a truly lovely item. Gorgeous almost beyond description, with thousands of years of universal acceptance as the premier form of wealth, a guaranteed way to retain one’s purchasing power over time, and all that. But it doesn’t fly, leap tall buildings with a single bound, or have x-ray vision. Gold, like all of us and like every other investment, is imperfect.
It’s just plain wrong to acknowledge bearish fundamentals and chart patterns in every other market (stocks, US dollar, interest rates, etc.), while failing to do the same when they apply to gold. Similarly, it’s not quite right to cite chart evidence when gold’s price is headed higher, but ignore those charts when they tell a bearish story. Gold may well be special, but not so special that it deserves a “pass” when it tells a story we’d rather not hear. Yet so far, we too often hear the old ... Log in or subscribe to continue reading.
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