That institutional traders invariably keep at least one eye on technical indicators has, in my opinion, led to something of a self-fulfilling prophecy, resulting in this latest move downward. That gold is a relatively small market – certainly against stocks and bonds – makes it fairly easy to push around.
Instead, I refer to institutional money managers who are loaded to the eyeballs with cash and itching for a return. And I'm not referring to government suppression schemes which may or may not lurk in the shadows. Clearly, there are powerful interests aligned against gold right now. It "should" be going up by $100 an ounce, not the opposite.īut when it comes to any investment market, there are no absolutes.
Without further ado, then, here are the thoughts of the principal members of the Casey Brain Trust (click on the names to read bios).ĭavid Galland, Managing Director ( The Casey Report ): Of course, gold and silver being taken to the woodshed (or is it the gallows?) at a time when some central banks around the world have committed themselves to the wanton printing of currency units, while others have committed themselves to aggressive purchases of gold, makes no sense at all. This is why some of the thoughts below will seem less positive than others we see this sort of open discourse as a good and healthy thing for out business. We also want readers to know that the "Casey consensus" is not a single view imposed on all, but the result of a constant conversation we have among ourselves, questioning our own premises, making sure we don't ignore new data if and when it contradicts our expectations. We recognize the severity of the situation and want readers to know we're taking it very seriously. Given the profoundly bearish sentiment that has gripped so many participants in the resource sector, particularly gold investors, we decided to poll the chief editors at Casey Research regarding the current sell-off.
0 kommentar(er)
