PD – I see no reason to be long Gold here at all, and that is the exact words I told one of my clients who was wanting to buy when we were at 680 a short while ago. The short term trend is down, and the longer term trend is flat, so I see no immediate opportunity. I am not a believer in the story of the long term trend of Gold to 3000 or whatever pie in the sky price anyone wants to name. I think the game is over there. The stories always come out after the run has already happened, and the public gets pulled it to the game at the end of the run.
There is no relationship whatsoever between Gold and stock prices that I have found, but there is one between Gold and Bonds.
