Despite long market Gold powers ahead

Reports of historically overbought long conditions in  gold, the metal defies convention and has broken resistance and is attempting to power forward. Reports of a grand washout in gold have left many “pundits” confused.

The underlying malaise in the world economic system is becoming harder to hide. Witness all the media jawboning about “Brexit” to no avail. All the central bank intervention, negative interest rates, money printing , all to no avail. Debt still has to be repaid if the interest rate is zero. And repaid it will be , with cheaper and cheaper paper money. Remember JP Morgan “Gold is money. everything else is credit”.