Sentiment has remained compressed in these “risk-off” trades, as stocks have remained near their highs on neutral sentiment. I’m expecting sharp reversals in the near future, though I am long-term bearish on the yen and gold for fundamental reasons.
Sentiment has remained compressed in these “risk-off” trades, as stocks have remained near their highs on neutral sentiment. I’m expecting sharp reversals in the near future, though I am long-term bearish on the yen and gold for fundamental reasons.
are you not bullish long term on gold and in that case why not?
do you have the same view on gold stocks? (HUI-gold stock index)
No, I’m not long-term bullish on gold or gold stocks anymore. I was several years ago when gold was historically cheap relative to other assets, but now it is expensive when measured against most commodities, real estate, wages, consumer goods, etc.