"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Tuesday, August 31, 2010

Gold... this is not bullish

Between those horrific commercials on Fox (boy do they feel like they are right out of the 70s') and things like this in the MSM, there is a lot of NOT BULLISH noise out there in gold.

Still, the rational side of me sees deflation and sees the Keynesian battle against it and thinks "while we can always get a hard correction to clear some dead wood, the targets in this pump piece actually look pretty good."  Not $1500 in 2010, I don't think.  But $1500 and beyond in due time.