MarketWatch/Barbara Kollmeyer/02-16-17
The blogger maintains “gold is telling the world something” right now, and seems to be among those who don’t quite buy all the market enthusiasm right now. “I believe that gold is hinting that the market is very overvalued. As the market has inflated up, gold has also risen (a lot) and is up year to date in 17’ more than the SPX,” he said in follow-up comments via email.
…“As long as gold is above $1,200, it is a long. Over $1,300 starts a move to $1,600 gold. I think we see $1,450 this year, and I think gold can smell the BS in the market right now,” says the blogger.
