About Me

Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!

Tuesday, January 21, 2014

Gold Price Quickie

With prospects for a better global economy for 2014 having improved, it has seemed
reasonable to expect a cyclical style bounce up in price for gold. However, there has been
a strict caution in place -- no long side trades until gold moves up and through the now
very powerful downtrend resistance line in place since Q 3 '12. That line is now around
$1250 oz. and gold failed over the past two days to take out the trend at $1250. So, it
could tank again as it has with each past failure, but today's negative action was not severe
enough to drop interest in the situation yet. Gold Price Chart

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