{"id":38612,"date":"2013-05-28T10:37:52","date_gmt":"2013-05-28T14:37:52","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=38612"},"modified":"2013-05-28T10:37:52","modified_gmt":"2013-05-28T14:37:52","slug":"steer-clear-of-gold-for-now","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/05\/28\/steer-clear-of-gold-for-now\/","title":{"rendered":"Steer Clear of Gold for Now"},"content":{"rendered":"

By The Sizemore Letter<\/u><\/a> <\/p>\n

From The Slant<\/a>:<\/em><\/p>\n

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Gold has pushed below $1,400 again. And despite a bump Thursday on a decidedly \u201crisk-off\u201d day for the market after\u00a0poor China manufacturing data<\/a>, gold prices are threatening to retest lows around $1,320 set in mid-April.<\/p>\n

Of course, the rebound in gold prices off those April lows \u2014 about 12% in just several trading days \u2014 have some swing traders wondering if another leg up is in order.<\/p>\n

Not quite.<\/p>\n

Charles Sizemore of Sizemore Capital Management chats with me about the dynamics working against gold in this latest podcast, particularly the notion that somehow the selloff is less real because it involves \u201cpaper gold\u201d as securitized via bullion-backed ETFs like the\u00a0SPDR Gold Shares\u00a0<\/strong>(GLD<\/a>) or the\u00a0iShares Gold Trust<\/strong>\u00a0(IAU<\/a>).<\/p>\n

My two cents: Gold\u2019s declines are real, the losses are real, and the risks to future declines are real, too.<\/p>\n<\/blockquote>\n

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Related posts:<\/p>\n