A complex system that works is invariably found to have evolved from a simple system that works.
John Gall
The Gold bugs and Gold experts must be going through hell; almost seven years later and the Gold Markets refuse to follow the path these individuals have laid out for it. Proclamation after proclamation has failed, and the detested dollar much to their angst and surprise has continued to trend higher. Inflation has not taken off as they expected; well at least based on the distorted figures the government issues. The masses believe this data is real and that is all that matters in the end. Truth or a lie is based on a perception and perceptions are driven by emotions, which means that everything is up for debate. What holds true today might not hold true tomorrow or what is deemed valid today might be deemed as rubbish tomorrow.
In Jan of this year, we published an article titled Gold market ready to breakout? A small excerpt is listed below:
Throughout 2016, we stated we did not expect much from Gold, and we stuck to this forecast, even though many experts went out of their way to report that Gold was ready to soar to the Moon or even to the next Galaxy. In fact, since 2011, we have continuously said that until the Trend turns positive, it would be best to play other lucrative markets, such as the general equities market, the US dollar, etc. During this time several experts stated that Gold was ready to surge and some issued insane targets ranging from $20,000-$50,000.
You would think that experts would try to release targets that made some sense. After all, Gold has not even traded past $2,000, so it makes one wonder how any individuals with a shred of common sense could issue a target of over $5,000. Even this target is quite high, and we only envision it being struck under extreme conditions.
This post was published at GoldSeek on 8 May 2017.
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