Greetings from our nation’s capital, where I’ll be ambling around the rural countryside for the next couple of days. Even so, Slope’s duties beckon, so I’ll continue to nurse things along even during my wanderings.
Gold has, as we all know, been a complete dog since the middle of 2011, having lost about 40% of its value. As 2016 began, it looked like gold was ready to reward the bulls again (just as equity bears were all-too-briefly rewarded), but in both cases, things fell to pieces. Looking at gold’s front month below, it illustrates the metal’s continued weakness since July of this year.