Otto over at IKN keeps track (in not so flattering terms) of the goofy prediction makers at Kitco. Looking around the precious metals commentary and analysis spectrum I realize ever more clearly that this is a smaller space with information intensively commoditized, with dogma and caricatures that define it.
Gold’s utility in this world is a really complicated thing. So much so that when I call it a simple value holder (the price assigned to value being a moving target) I think many people yawn or have their eyes glaze over. That is because the clowns peddling influence in this sector serve up the easiest crap for a lower common denominator (aka the ‘mark’) to understand. Stuff like Indian wedding season, China growth and gold demand and the all-time classic, geopolitical safe haven.
Here is the progress GDXJ is making since we noted it a couple weeks ago… GDXJ; Hype Never Pays.
So you know, I have gotten offers to be a featured (exclusive content) writer on certain websites and have declined each time. This at the expense of free advertizing of my services and in one case straight monetary compensation.
It is absolutely critical to remain unaligned and independent because in this goofy gold ‘community’, there are a lot of Wrong Way Corrigans. Like the ones who kept seeing bullish in things like Ukraine or the ugly daily chart above, for example.
Fear not community, it’s just a daily chart. Beyond this disturbance, things look more bullish. But don’t take my word for it. Make sure you think for yourself and filter the cartoons in the gold sector analytical backdrop.
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