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Longtime gold bashers are gloating over the precious metal’s recent price slump. Gold prices have declined more than 10% in the first quarter of 2021. But the perma-bears shouldn’t feel vindicated. After all, anyone who heeded their advice missed out on gold’s record run in 2020 – and on many years of outperformance since 2001. While gold bugs are often accused of having an unhealthy obsession with the metal, the “anti-gold” bugs reveal a deep-seated bias that can only be explained as irrational or dishonest. Financial Advisers Don’t Get Fees Recommending Physical Gold It’s no mystery why many who work in the financial industry hate gold. They are in the business of pushing paper assets, and physical precious metals held outside of bank and brokerage accounts generate no fees for them. ....
Real US Interest Rates and Gold :: The Market Oracle :: marketoracle.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketoracle.co.uk Daily Mail and Mail on Sunday newspapers.
Gold is dodging bullets, as it comes increasingly under fire from rising U.S. interest rates and a USD that is poised to surge. Catching unsuspecting traders in yet another bull trap , gold’s early-week strength quickly faded. And with investors unwilling to vouch for the yellow metal for more than a few days, the rush-to-exit mentality highlights a short-term vexation that’s unlikely to subside. Please see below: Figure 1 Destined for devaluation after hitting its triangle-vertex-based reversal point (which I warned about previously ), the yellow metal is struggling to climb the ever-growing wall of worry. Mirroring what we saw at the beginning of the New Year, gold’s triangle-vertex-based reversal point remains a reliable indicator of trend exhaustion. ....