I was fortunate enough to hear his explanation for this in his own words on Bloomberg TV, which had touted his gold call about every fifteen minutes all day.

The net summary of Mr. Currie's forecast is that Goldman's economists think that there ought to be no fear in the financial paper markets, since there is an historically low chance of a recession, less than fifteen percent, and he sees no real possibility of negative interest rates.

Therefore, since in his mind gold is strictly a 'fear trade' and since Goldman says to have no fear one ought to therefore sell gold.

Do with that what you will.

As for my own forecasts, I see the world economy fraying substantially throughout the year, with the domestic risk of inflation unusually high relatively speaking, and the geopolitical risks to be also rather elevated.

But at the end of the day, gold is now trading as a currency, and Uncle Buck was on a no fear tear this morning. And no matter what Mr. Currie may be saying, I am watching what Asia is doing.

So far so good on the charts as noted below.

It may be a bit of time before one might determine whether the lip of the cup is straight horizontal or slanted IF the chart continues to develop.

There was very little action at The Bucket Shop on the PM delivery front, and some silver was shoved around the plate and taken out of the warehouses. Not much happened in other words. What a surprise. The Bucket Shop is a monumental mausoleum for what has gone wrong in the US markets.

Have a pleasant evening.

By Jesse

http://jessescrossroadscafe.blogspot.com

Welcome to Jesse's Café Américain - These are personal observations about the economy and the markets. In providing information, we hope this allows you to make your own decisions in an informed manner, even if it is from learning by our mistakes, which are many.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Only logged in users are allowed to post comments. Register/ Log in

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.