by Mike ‘Mish’ Shedlock
Mainstream media articles smacking gold are inevitably made by writers who are clueless about the metal.
Gold and the Recovery
Put Wall Street Journal writer James Mackintosh firmly in the clueless camp.
Mackintosh says Gold Will Need More Bad News to Keep Prospering.
If economic recovery continues, expect gold to suffer: There will be less need for insurance, fewer worries about the dollar’s reserve status and lower prospects of more Fed action. Of course, if the Fed lets inflation rip gold might ultimately rise a lot more—but for now, at least, investors see little chance of this.