Nobody Wants Your Rocks

JC Parets
August 9, 2021

The market has spoken.

You might have your conspiracy theories about market manipulation or inflation or whatever story they're telling these days.

But it's only the price that pays. We just want to sell things at higher prices than where we buy them.

And you're going to have a hard time finding a worse investment over the past year than Precious Metals.

Every commodity in the world is up over the past year. But not Gold.

I was on live Yahoo Finance on Monday afternoon talking about what we're seeing there:

.@allstarcharts’ J.C. Parets on the gold market: “Nobody wants your rocks—that’s the theme. Over the last year you’d be hard pressed to find a worse investment. Every commodity in the world is going up except for gold.” pic.twitter.com/KbXfRtevxc

— Yahoo Finance (@YahooFinance) August 9, 2021

If/when Gold breaks out of this massive base, it will probably make for a great trade.

But that's just not what's happening right now.

We're just seeing selling and underperformance, neither of which are characteristics of assets we like to own.

What about you?

Do you believe the stories or price?

JC

 

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