Tuesday, October 08, 2013

Gold a 'Slam Dunk Sell'?

You got to love it when CNBC is doing the pressing for Goldman's Jeff Currie, who is a bear on gold, even though the yellow metal has not cut a new low since June 28 (3+ months).  CNBC regular trader Jim Iuorio seemed mostly on board with Mr. Currie, although Mr. Iuorio took issue with Currie's pronouncement at London conference that gold is "a slam dunk sell." 

He (Iuorio) called that statement "a little too cocky," particularly if "they push the taper a little further away and name Janet Yellen as the next Fed Chairman." 

Source:  CNBC



GGR Comment:  Boy, is Jim, who is one of our favorite CNBC traders, (and Currie) likely going to be surprised if their timing is beyond the end of the month.  They are apparently not watching the gold/silver ratio very closely. 


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Trading gold, silver and mining shares since 1980 with a focus on taking advantage of volatility extremes, Gene Arensberg analyses the markets through a basket of technical and fundamental indicators and shares his findings from time to time here at Got Gold Report. Mr. Arensberg has been quoted in the Wall Street Journal, Dow Jones MarketWatch, USA Today and dozens of other news organizations.

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