15.07.2014 - Why gold just posted its biggest drop this year
Goldís $30-plus drop today ó the biggest daily decline of the year ó serves as a powerful reminder that the market for the yellow metal remains vulnerable to shifts in investor mood. And that does not bode well for goldís near-term prospects. Thatís because thereís more bullishness than bearishness today among the gold traders I monitor, which, in turn, means itís more likely that shifts in mood will cause gold to fall than to rise. Consider the average recommended gold-market exposure among a subset of short-term gold-timing newsletters tracked by the Hulbert Financial Digest (as measured by the Hulbert Gold Newsletter Sentiment Index, or HGNSI). The average currently stands at 23.3%...............................................Full Article: Source
Print