The Phaserl


Gold – Has the ‘Narrative’ Failed?

by Pater Tenebrarum,

Barry Ritholtz on the ‘ Gold Narrative’

Presumably alerted by the failure of gold to break to new lows and the non-confirmation delivered by the gold stocks last week, Barry Ritholtz now believes gold could be due for a bounce that might be playable for short term traders. However, Mr. Ritholtz is also convinced that once said bounce is over with, the recent cyclical bear market will resume.

The reality is of course that neither Mr. Ritholtz, nor anyone else actually knows the future. Therefore, he cannot know whether the bear market is or isn’t over. However, judging from the remainder of his post, he actually seems to think that the secular bull market in gold is over. In our opinion there is no evidence for that, and we will explain below why we think that he and others in the long term bear camp are wrong.

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2 comments to Gold – Has the ‘Narrative’ Failed?

  • mac

    ***China and Russia buy Tons of Gold every year, and produce Tons more which never leaves their countries! Why you ask? Well, you can figure that out, I believe.

    So the bankrupt countries – USA, UK, Japan – print paper – endlessly making new “paper” and we are to believe paper has value cuz gov’t said so.

    The countries with positive balance sheets BUY GOLD. Ok? Counries, like people, flush with paper (“cash”) turn it into a real, physical asset – Gold.
    The poor countries, well, their ‘elected’ bankster puppets they talk, talk bs all day, their people more poor every year – what 50 million in the usa on FOOD STAMPS, 10 million on Disability. Poor people have the right to set the gold Price – NOT FOR LONG!

  • Frank Zak

    Mr. Barry Ritholtz has a remarkable track record
    calling Apple stock and golds top.

    He sees gold going up to $1400 1440 before
    backing down to possibly $600 to 800 in
    the long term. Not impossible he says.

    Guys like him and Christian have been getting gold
    calls right. We don’t agree with them, as we all feel
    the fiat will collaspe.

    So, they can get it right in the meantime.

    But, the person who gets it right in the end will win.

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