Wednesday screencast: golden nuggets

abnormalreturns
September 29th, 2010

Gold is on a roll. However has the run in gold gone too far, too fast? We recently came across a number of interesting items on the state of gold sentiment. At the time being it seems that just about anybody talking about the shiny metal is long. During big momentum moves the crowd can be right for an extended period of time. The question is when does the bandwagon get too crowded? George Soros says that gold is the “ultimate bubble.” The run in gold will end, but the timing of it is still very much up in the air. In today’s screencast we review some items on the state of the gold bull market.

Posts mentioned in the above screencast:

Meb Faber, “I literally can’t find a single manager that is currently bearish or short on gold or gold stocks.” (World Beta)

John Paulson still has 80% of his assets denominated in gold. (Clusterstock)

Money keeps flowing into the SPDR Gold Trust (GLD). (IndexUniverse)

Selling out of gold. (Howard Lindzon)

Are gold vending machines a sign of a top in gold? (MarketBeat)

The gold/silver ratio is at two-year lows. (Bespoke)

Is the rise in gold a dollar phenomena? (Big Picture)

George Soros on the “gold bubble” and its eventual demise. (Reuters)

A daily chart of the SPDR Gold Trust. (Finviz)

also:

Gold is becoming more correlated with the Swiss franc. (FT Alphaville)

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Tickers: GLD