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Thursday, February 21, 2013
Evrybody hates gold
At 1580, in the 10th year of a bull market, sentiment for gold is at an all time low. Of course the bull market could be over. Just as it could have been over in 2004, 2006, 2008, 2011. Sure maybe it's over now. Maybe all the currency war, competitive devaluation, QE infiniti and quadrillions of debt are actually good for the economy like Nobel Laureate Krugman says.
But the monthly chart of gold still looks pretty good. And the more people hate gold the better I like it.