Bullish: The gold market’s steep wall of worrySubmitted by Charleston Voice on Fri, 05/04/2012 - 18:37
More and more gold traders have thrown in the towel
By Mark Hulbert, MarketWatch
CHAPEL HILL, N.C. (MarketWatch) — Take heart, gold traders!
While bullion’s listless behavior over the last couple of months is undeniably frustrating, a very robust wall of worry is being built. Eventually, gold will begin to climb it.
I emphasize “eventually” because it’s been two months since I first reported that gold market sentiment conditions had begun to improve. ( Read my Mar. 7 column, “Gold market sentiment finally improving.” )
Since then, of course, gold on balance has gone virtually nowhere, stuck instead in a relatively narrow trading range between $1,600 and $1,700 an ounce...