With gold prices having fallen quite a bit lately and MarketWatch declaring that "Gold is Tarnished For Good", one might wonder if Bo Polny has changed his view of gold in the short term? Again, the answer would be no. Mr. Polny writes this update today and restates his conviction that gold will soon start a big move up.
Today provides us a great opporutunity to contrast two polar oppositve views on gold side by side (see the two links above). We will follow these contrasting views and forecasts to see who ends up being right more often. It's hard for most people to keep track of this over time so we try to do that here for readers.
Mr. Polny has also done two recent online radio interviews with Al Korelin where he answers questions about cycles and again restates his conviction gold will soon make a sharp move up. Here are those two links for those interested:
Online interview - Segment #1
Online interview - Segment #2
I am not sure if he will be right or not. But I am sure this is not technical analysis.
ReplyDeleteTime will tell. If he is right it likley means some events are happening that would cause major change in the monetary system. If he is wrong, it likely means things are stabilized for now. I still think we will see major change either way, but it may happen over time in increments in a way less disruptive to people. Regardless we will follow it here and report what happens.
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