Gold’s Sloppy Path
As I was dumping almost all my personal bullion when it was above $1300, folks were telling me how foolish I was, how I was pulling a “Gartman”, and so forth. All I can say is, as gold’s value continues withering away, I don’t have any regrets. I think it’ll bounce back to $1250 at some point, yeah, but I think it’s going to be a miserable 2017 for the yellow metal (and even worse for miners). Gold sucks. It’s just about the only asset that’s reliably down every day.
Disclosure: None.
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Thanks for sharing
When it bounces back to $1250, the gold bugs will claim it's the resumption of the PM bull market. I'm always amazed at how the devout gold bugs (the types who consider Doug Casey to be a divinely inspired investing guru) refuse to even consider the possibility that gold will continue on its path down over the next year. They have transferred the idea of BTFD in stocks to BTFD in gold. It works until it doesn't, and it stopped working for gold a long time ago.