Looking around the gold sector at some of those who have tried to keep ‘em bullish all the way down. The peddlers of hope are irrepressible.
Huey writes that gold stocks are well supported by the enormous expansion in the global gold jewelry business. In fact, according to Huey Western mining stock shareholders stand to reap substantial reward from the relentless growth in gold jewellery demand.
Do you hear that? Not just have an end put to their misery but if they will just hang in there a while longer they will be in line for a substantial reward… all due to a supposed fundamental underpinning that has nothing to do with the investment case for gold miners… and is not nearly the best driver for gold either. Keep bafflin’ ‘em with bullshit Huey. All the way down… unbelievable.
Dewey is getting excited about the Switzerland gold vote. This has less to do with a fundamental case on gold than Huey’s constant harebrained babbling about Modi, Indian Weddings, China’s demand and whatever else he throws at the wall that sticks. Dewey recently got some serious play at MarketWatch and indeed is often seen in the mainstream media. He also sells gold. How convenient.
As to the Swiss vote, if it goes positive any hype driven upside will not last. If it goes negative as I think it might, any downside based on that would be bogus as well.
Louie (who I have never heard of before but works with a key silver figurehead who I have heard a lot of) is going on about the streams of gold leaving Western vaults and heading east. Yes, it’s the old China demand thing. The same China demand thing that we had to ignore in 2013 and 2014 to our benefit. Unfortunately, people who keep grasping at these straws laid out by promoters keep finding disappointment after the hype wears off.
A peak in bullshit was during the summer with all the Ukraine/global geopolitical tensions hype. They will try to find anything to promote a bullish case for gold. Ebola? That was a low point as someone I thought reputable allowed himself to get tangled up in a headline about Ebola being the thing that would finally drive gold and silver prices. It’s a sickness with this sector. It’s dumb, dumber and dumberer.
