Just read an article in the WSJ this morning about how Gold is down 29% YTD and is set for its first annual loss in 13 years.
Can’t help but remember all the people who told me how Gold was a sure thing or how Gold never went down. The lesson here is pretty simple—don’t get caught up in all the fundamental reasons why something should go up or down and don’t get caught up in the sales sizzle of people who have a vested interest in trying to get you to buy something. All of that stuff is rarely right, the market is always right. Follow the trends and counter trends and you will be ok. There will be a time when it makes sense to buy Gold again but don’t try to pick the bottom, you may get lucky here and there but that is rarely a winning strategy.