Gold $1304 bitches!
I finally got subbed to BNN's morning newsletter, and what do I read?:
Also, according to Ed Yardeni, just fyi, he notes that “the commodity super-cycle is dead. We’re still doing the autopsy to determine the cause of the death.” He notes that he isn’t convinced that a new secular bull market in gold is making a comeback. Gold tends to track the tend of industrial commodity prices which are weaker so far this year.
1. Wait, gold tracks industrial commodity prices now? I thought gold tends to track the 10s/2s? Or the TIPS yield? Or geopolitical risk? How's about you give us a little regression analysis to back up your assertion with a correlation factor, Ed? I mean, if it's got nothing to do with that little thing called supply and demand.
2. Who's Ed Yardeni anyway? Oh - a guy with a blog. Wow. Hey, BNN, how about you start quoting my little ignorant meaningless blog too? Or am I just not at the same level as a guy who pulls baseless assertions out of his ignorant honky ass?
3. If Yardeni is still in there with Ritholtz and Josh Brown, doubting the advance in gold, then gold still has a long way to go before it starts to see any resistance.