Looks like the GoldBears are out again. We were going to post on this a couple of weeks ago, but realized that volatility is the name of the game, especially with gold prices, so what was the point?
But somebody thinks otherwise: Seeking Alpha – not on IFO’s blog roll – has a new item up today: Why the gold rush is out of steam and how to respond. Frankly, that’s way too many lines and way too many charts. We go for the term volatility. The author has some interesting, if wrong-headed, reasons for thinking as he does, and quotes July 1 gold price at $1494. Also, we agree with some of his stock recommendations. It’s always good to read stuff you don’t think you’ll agree with – you might just learn something.
Anyway, Kitgo has a live feed of gold prices during trading and gold is up today. $1511 right now. Will it be up tomorrow? Tune in to Kitgo every day, if you’re interested. See and decide for yourself.