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Gold Vulnerable Ahead of Payrolls and FOMC

- Sam Kirtley - Sk Options Trading

The notion that economic data in the US is positive is silly. Numbers and stats might be able to be manipulated to make it look like there is some sort of (long awaited) recovery going on, but reality on main street gets bleaker by the day. The common folk are buying guns, ammo, chickens, and 5-year survival rations--and that is even before the economic realities of ObamaCare kick in (along with millions of new participants in the program once amnesty takes place...and it will). Gold and silver might be searching for a new bottom, but it certainly "good economic news" is not the reason--because there ain't none.

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Beginning of the headline :We expected that the Cypriot fiasco would have little effect for gold and silver, but many gold bugs have given the crisis in Cyprus a great deal of attention; despite this attention the metals market has failed to rally out of its recent downward trend. The absence of a rally in the underlying precious metals has resulted in mining stocks remaining relatively flat over the last few weeks, backing up our argument that one should not buy gold stocks to take advantage of the Cyprus fiasco. Last we... Read More

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