The price of gold continues to move opposite the dollar. The dollar continues to move opposite the Euro. The Euro continues to move opposite the expectation and worry that populist movements will continue to sweep through Europe.
So right now the price of gold moves with populist discontent with the status quo.
If you think that discontent is a momentary fad that will eventually sink down into the sands of time and be swallowed by the strength of wealthiest banks, corporations and their captains then gold is a bad bet.
If you think that a very few people can continue to suck all the resources out of the world economy into their own pockets gold is a bad bet.
If you think the swell of populist discontent has finally reached critical mass then gold is a very good bet.
It all depends on how you read the present moment.
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