I don’t like gold, I never have. As an equity trader, I think that the Gold Trust ETF (GLD) is one of the worst products there is to trade with its almost daily gaps. For the last 5 or more years I have provided commentary and analysis of Gold and at the end of 2014 I decided that I will no longer follow gold. To me it is like school was, I cannot do well at a subject I had no interest in.
Unless someone somehow convinces me otherwise, these will be my final gold comments. It is my sincere hope that for all the gold bugs out there that my dropping gold is the ultimate contrary indicator and that it soars for you. Gold has had a great start to the year since I have stepped aside (so far so good for the contrary indicator!)
Below are a weekly and a daily chart of $GLD with comments on the charts.
By the way, I think that Bitcoin is even worse conceptually and I will no longer cover that either.