Gold price action has been incredibly frustrating of late.
The current situation we're in where nothing seems to make sense and everything is ''upside down, back to front, sideways, reversed, yawed and flipped over'', really reminds me of that scene in the movie ''The Big Short'', where the mortgage backed securities are not being priced correctly, and the guys that have correctly shorted those instruments are pulling their hair out and really starting to question whether they might actually be on the wrong side of the trade.
Gold has done this to me lately, I've questioned myself, my analysis, my philosophical beliefs, I've had to deal with the possibility that I might be incorrect, an idiot, blindsided, or, just wrong in my thinking.
After much reflection, I have to admit that I still believe very strongly in the fundamentals of Gold. Admittedly, I was counting on a Trump victory to be the catalyst that would launch this bull market into the stratosphere, this hasn't happened.... yet.
It doesn't matter what Trump or anyone else does, at some point, the reality of the national debt in the US and all the other debt in the world will rear its ugly head and gold will do what it should.
It's just that I don't know when this will happen, and it somehow seems further away now than it did a month ago.
I intend to hold and ride it out, whatever the outcome.
PS : Although, I could be completely wrong (and I mean it this time)
Cheers
Ivan
BDR Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
