I Hope Gold Comes Down Even More
Gold can't catch a bid. We hear a million reasons why: The Federal Reserve wants interest rates lower, the dollar is strong, the chaos in Europe is over, China's stabilized.
I have to tell you that every one of those is a pile of hooey. Gold, using the SPDR Gold Trust (GLD) as the proxy, has now gone from $184 down to $159 from mid-2011 until now. During that period, we did have chaos overseas. But we also had a strong dollar and a dovish Fed. During the previous 12 years we saw all of these circumstances that are now being credited for gold's weakness -- and the precious metal rose every year....408 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.