Summary: The chart on gold is not looking very good. And it seems that retail investors have lost interest in the precious metal. Is this a correction within the longer-term gold bull market or is it a new secular bear market for gold? I have some thoughts below?
I don’t like talking about gold because it is not an investment which lends itself to rational and logical analysis based on traditional valuation metrics. But I am going to try to put some logic to it here as precious metals are an investment sector which cannot be overlooked given the historical importance and the outperformance of precious metals over the last decade.
But gold has been breaking down in a big way since a peak in 2011. Why? In January 2012, when I predicted that gold would break down, I ...
As this site is now reader-supported via Patreon, the remainder of this article is only available to subscribers at a specific patronage level. Articles at patronage levels BRONZE, SILVER, and GOLD are denoted by the categories in blue capital letters above the post. Posts categorized DAILY are available to both SILVER and GOLD patrons.
Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.