Here we take a quick break from our scheduled program so that I can brag a little and buttress the points I’ve been making about the gold market. Back in July of this year I pointed out that gold had stopped reacting to the QE programs at least since the inception of QE3. I also noted there that this was the primary signal I picked up on which told me that gold was probably in terminal decline.
Well, Business Insider have run a nice little collection of charts wherein they have allowed their top-rated analysts to pick what they think to be the most important chart in their particular field of research. I might run through some more of these charts in the coming days, but right now it might be worth seeing what Michael Widmer, Head of Metals Market Research at BoA Merrill Lynch has to say about the shiny metal,
Not bad for an amateur observer who casually watches this market from the back pages of the Financial Times…
Back tomorrow with regular programming when I will deflate my chest and return to being my humble self.