How’s gold doing?

Today’s commentary
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 ...

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