Last week, market sentiment toward gold fell to 52% favorable, the lowest it has been in eight years *EXCEPT* for the 4-week window in 2008 when gold bottomed and had a single-day market sentiment rating of 48% favorable.
Aside from that one day, the lowest sentiment rating seen in 2008 was 51% favorable.
In other words, last week's 52% rating is VERY close to the 2008 low. And since gold is down today, I wouldn't be surprised the rating has matched what was seen in that 2008 4-week window.
Let the joyous news be spread: The seven-month bear market in gold is dead!
Currently $1,590/oz.
Or so I think. For what that's worth.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
| 