Being a precious metals bull myself, I have been of course quite pleased as the bold ascent of GLD over the past few weeks. Most of my reasoning is the belief that the world is slowly going to wake up to the diseased, psychotic madness that the central bankers of the world have foisted upon us, and gold will be one of the very few sensible safe havens.
It’s somewhat interesting how volume continues to be tepid. Bears could argue this demonstrates there simply isn’t strong interest in gold. Bulls like myself (how often have you seen those three words side by side?) would suppose that it’s better for gold to move up subtly without widespread participation, with an eye toward the public jumping in later en masse.
One other curiosity is how the miners are lagging the metal. GDX started off strong today, but it has been slipping all day long
It’s certainly a breath of fresh air compared to the completely, screamingly, shamelessly, and obviously manipulated equity market. Take Microsoft (please!). You could put a butter knife on your computer screen and hide every price bar. This has been designed to deceive. Do you honestly think that, day by day, people realize that Microsoft is, in fact, worth about 1% more than they thought the prior day? Come on.