To state that Gold is going well when it’s trading at half the market value it ought be is a bit of a stretch. In fact, as “bulled up” as Gold aficionados appear to be through these first nine trading days of the year, price being +2.5% is actually the second weakest “nine starting days performance” of the past five years. Yet in a positive sense, it really “does feel different” this time. And when Gold goes well, ironically, it’s often more difficult to write about because it’s doing that which is expected: rising.
Still, before we all get overly excited out there, let’s update this annual tidbit: in the 43-year span from 1975 through 2017 inclusive, Gold’s low for the year has come on the first trading day just four times,but had never so done in two consecutive years until 2016 and 2017. Is 2018 to make it the third such straight year? So far, it’s the case, Gold’s year-to-date low of 1304.6 having traded in the first hour of this year’s first day. Now we’ve Gold per yesterday’s (Friday’s) settle at 1338.3.
Moreover, from the “Say It Ain’t So! Dept” Gold bullishness is uncannily permeating beyond the bounds of the old gummers down in their bullion bunkers. Indeed, one may have read on various Gold pages of late that the yellow metal is anticipated to be an outperforming asset in 2018, that once again we’ve another “This is IT!” year, so many of which post-2011 have been fizzlers. But when the pro-Gold notion reaches the MFM (mainstream financial media), one does sit up and take notice. Long-time readers know that we steer quite clear of all televised MFM: yet courtesy of the bedside radio, we heard on Bloomberg in the wee hours this past Tuesday an analyst with expectations for Gold’s indeed being a 2018 outperformer. As Bloomberg touts ad nauseam their global media presence, we trust that millions “hold it here first!”
