Irrational?

Well, this morning's spike down in gold, accompanying these headlines is irrational (yet so predictable): 

New York Manufacturing Activity Dips Again  --MarketWatch

US Jobless Claims Jump to Highest Since June  --MarketWatch

What is not irrational is the correction in gold, which has been in the cards and ongoing for weeks now.  May as well have some misperceptions help it on its way.  Get this, when counter-cyclical things happen in the macro, gold will retain relative value and the gold stock sector - pending turbulence - will ultimately benefit.

For casino patrons micro managing the price of gold, the target is err... lower.


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