Readers may recall that in 20, after largely ignoring the fact that gold had been going up for more than a decade, virtually all the major mainstream banks and brokers suddenly turned bullish on gold. It can always get worse.Ī Plague of Gold Bears and The ‘Tapering’ MythĪcting Man touched on the sentiment theme in A Plague of Gold Bears and The ‘Tapering’ Myth. So am I selling? Of course not, and it seems silly to even ask.Īnti-gold sentiment is amazing, but sentiment alone is not a good timing factor. I bought with the intention of holding for a lengthy period, stating “I believe precious metal miners represent true value, but I cannot state when the market will come to the same conclusion.” No one can accurately predict such things.” I answered “Your prediction seems as silly as those who knew gold would be at 2400 or even 3000 by now. One reader proposed “ My prediction is when the Fed finally stops printing, gold will drop to $750 and when they start raising rates gold will drop to $500.
Well good luck with that idea, because this is an investment not a trade. Others taunted they will buy when I sell. People want to know if I am still in the trade.
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