kingworldnews.com
Despite the recent weakness, it appears that gold is “starting to trigger.”
Gold Starting To Trigger
December 11 (King World News) – “Gold
is starting to trigger a few positive studies, but the Optimism Index
isn’t down to a level that has led to rallies in the past (see chart
below).
A
part of that is due to hedgers still holding a large short position
against the metal, even after a pretty big cover this week…
I’m tempted to add some exposure based on the studies in this report but am holding off for now.”
King
World News note: While sentiment is on the lower side of the neutral
zone for gold, it’s interesting to note that sentiment in the etf GLD
has recently broken well below 20, hitting the “Excessive Pessimism”
level (see chart below).
The
bottom line is that there may be a bit more weakness in the gold market
but it is very close to a turn, which is what Jason Goepfert is
watching closely. For those of you who accumulate physical gold and
silver each month on a dollar cost average basis, do not try to get cute
and time the market. Instead, remain disciplined and make your
purchases at the same time each month. Despite the hysteria surrounding
bitcoin, gold will have its day in the sun.
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