confident investors dump gold

So says Tony Kaye (of Eureka Report) in an article for The Australian.

Except he gets the facts wrong and it reads more like a hit piece than intelligent analysis. He claims a US$300 fall when it's only been $240 and that's if you take from intraday peak (early October, not September) to trough.

Where is the decent Australian media analysis on Gold? They write hit pieces at the bottom (SaturnV of HC noting the previous contrarian indicator of Pascoe's Gold articles at the bottoms) and sensationalist rubbish at the top... almost forgivable for reporters, but the guy that wrote this is editor of "Australia’s leading investment report". I would expect better.


Confident investors dump gold

by: Tony Kaye
From: The Australian
March 09, 2013 12:00AM

THE 16 per cent, or $US300 an ounce, slide in the gold price since early September is leading more analysts to the view that the metal has well and truly lost its precious status.

Against a 17.7 per cent rise in the ASX 200 index across the same period, any investor brave enough to have staked their fortune on bullion six months ago would have taken a gold bath.

Indeed, a correction in the gold price has started and there are strong expectations the metal will fall much further across the medium to longer term as support for the metal is eroded, large holders cut their exposures and investors move out of low-yield safety assets into higher-yield riskier assets such as equities.

Link or google article title and click first link to read in full.