And so once again, the Kitco Gold Survey bunch of monkeys with dartboards prove to be a fine contrary indicator. Last week a full two thirds of the “experts” surveyed called gold lower, the result is that gold ended higher. Only by 0.15% perhaps, but it was yet another example of when the survey gives us a strong signal and that turns out to be plain fat wrong. The count on strong signal wins is now a pathetic nine out of 26 since September 2013, when we started our coverage of the bunkum these people pass off as something special.
Monkeys. With. Dartboards.
However, this time around we also need to compare the BS at Kitco last week…
“A solid majority of participants in the Kitco News weekly gold survey see weaker prices next week…”
…to the revisionism this week now that the results are known:
“Last week, survey participants were slightly bearish for this week.”
…and can you spot the difference, too? Yup, it’s not just the people they ask who are the bullshitters here. Anyway, next week there’s more good news for gold longs, as 54.5% of these idiots think the metal’s going lower.