by Pater Tenebrarum
A Growing Bullish Chorus – With Somewhat Muted Enthusiasm
A few days ago a well-known mainstream investment house (which shall remain nameless) informed the world that it now expects the gold price to reach “$1,500 by early 2017”. Our first thought was: “Now they tell us!”. You won’t be surprised to learn that the same house not too long ago had its eyes firmly fixed in the opposite direction.
[…] Why are we telling you this? We have noticed that sudden professions of new-found gold bullishness have begun to proliferate lately, relatively speaking at least. This is not only evident by these Canossa-like conversions of former bearish heretics, but also in the positioning data.