GOLD bears get looked upon with as much, if not more, disdain as those uber stock market bears, who only know how to draw red arrows on their charts, and continually call for severe market correction. The experts, the 'Pros' want you to buy Gold for protection against the unknown. It's a 'safe haven' from the turmoil around the globe. War? Buy gold. Lehman Brothers Collapse? Buy Gold. Central Banks embarking on unprecedented policy? Buy Gold. JB wrote a great piece on it last year.
Gold worked out well from the financial crisis until late 2011. Since then its been a slow methodical free fall, with no support in sight.
If Gold is a supposed safe haven asset, then why is it falling? I think the previous statement answers itself. Either Gold is no longer a safe haven, or there is no need for investors to be invested in a safe haven asset. Until either of those two factors change, gold will continue to drift lower.
Last week JB was scaling into the $DUST calls in anticipation of a move lower in gold mining stocks. So far so good and for those in the chat room as well.
