News from the Kitco Gold Survey is that last week the monkeys with dartboards (they prefer “experts” as chosen vocab) managed to call the gold market correctly for once. As 66.66% of the participants called gold higher and GLD (our benchmark) rose by 2.88% in the five days it’s a clear win.
- That brings the overall score to 16 weeks out of 41 called correctly.
- That also brings the “strong signal” score (when any of the three options up/down/sideways gets over 50% of votes) to 10 weeks out of 28 called correctly.
For the record, next week 69.2% of the monkeys with dartboards say gold’s going even higher. Do with that what you will.