Feb
16
Gold, from Easan Katir
February 16, 2007 |
In the past few weeks I have endured three separate impromptu lectures from acquaintences on how gold is just starting a big run, the US dollar is trash, put all your children's college funds in gold, etc. Makes me muse that the gold gods might be tempted to provide another lesson for a lifetime.
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http://futures.tradingcharts.com/chart/GD/M
the chart does look bullish, but during the period of 1995-2000, Gold underperformed equities. I think a similar period might be at hand.
http://futures.tradingcharts.com/hist_GD19983.html
so if equities break through resistance on the SP500, Gold’s price will become unstable to the downside.