The following post is from June 6, 2017, and discussed yet another total myth about gold – that it is only bullish when the miners and/or silver are leading gold, otherwise it’s bearish. This is totally false. When we’re coming out of bottoms, I want to see gold lead. If you want to believe the false theories, that’s your business. And once again the gold permabulls will absolutely not accept this. They have been mesmerized by all of the gold websites (virtually all scammers) out there who have been making horrendous claims about markets for….well basically “forever”. We’re still waiting for the $ “crash” and the stock market “crash”. And, as opposed to their incompetent claims, we are certainly still extremely bullish about the long-term prospects for the stock market…..And gold also.
The totally unsubstantiated theories about gold include the most laughable one, “gold is the inverse of the US$”, also gold “soars when the stock market ‘crashes’- always”, and the one below. Silver and the miners are not gold. Gold is gold. There is a reason why gold is the price it is and silver is the price it is. And it’s frustrating when I hear people talk about gold and silver in the same breath. Gold is gold. Gold is the leader. The others are followers. Yes there are times when the others catch up, and then lead. And that’s fine. But gold stocks are gold….plus stocks. Gold is gold. I love physical gold. Silver is not gold. Gold is gold. The one time when I pay attention is when the others are lagging gold in an overall uptrend, like in 2011, especially with the juniors. But again, this is saying way more about the miners, and my attention towards the miners, than about gold itself.
Right now the others are lagging gold, but what is the overall technical situation? It will change. That’s all that matters to me. And again, you want to listen to all the gold websites, that’s your business. We deal with reality at our website. Gold is in a massive accumulation area.
From June 6, 2017: There will be several of these similar types of PM posts coming up. And most of them will be taking aim at the gold permabulls, and their totally un-researched, unsupportable, and emotional theories about the PMs. But just to be clear, in this post from 12/9/15, I believed it was finally time to start buying PMs, especially the miners, and that long-term bullish view is still firmly intact. So to be fair, we’re on the “same side” once again, but I share none of their outrageous claims. There are many myths about gold which amazingly still persist today. One of them is that if the miners and silver are lagging gold, then it’s worrisome. My view is not remotely the same. In early 2016, several comments came in about how wrong I am regarding my bullishness on gold. And how silver and the miners lagging is bearish. And last November/December, as the PMs were falling, gold started underperforming silver and the miners. Meaning the others were leading, and my constant reply was “no, that makes me more concerned, I want to see gold take over the lead“. Those are just two example – there are numerous examples. If you look at the big picture gold and silver charts, just go thru and figure it out for yourself. The premarket comments over the last week have discussed that the miners still have time to play some big catch up, and they certainly did on Tuesday. but gold is still the leader. The lagging by silver, or the miners is more a reflection on themselves relative to gold. Also, for the ultimate “proof” to debunk the gold leading-silver lagging concern, gold set a new all-time high in 2007, but we’re still waiting on you silver. Lastly, gold’s had a big rally, and no I’m not buying now.
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