Doc has been long gold longer than short gold but not at current levels. Doc is looking forward to the inevitable decline to around 1360 before re-building a long position with intent to hold until the next 'short' cycle.
There is no reason to hold gold other than a short term harbour. It is a place where professionals take advantage of retail buyers brainwashed by the stories. In many ways the stories are clever, they appeal to that part of the retail brain that makes sense 'how can the world continue with such debt, I would be bankrupt'. To understand debt markets one needs to understand how money is created and the role of credit in growing an economy.
Gold is a speculative 'ultra-short timeframe to a one year timeframe' means of income.
