Gold’s big drop is just the beginning of a longer slide

Gold’s big drop is just the beginning of a longer slide

Gold’s short-term direction is down, according to contrarian analysis. This forecast has nothing to do with Thursday’s big drop in bullion’s price. Consider the average recommended gold (GC00)(GCU19) exposure level among several dozen short-term gold timers I monitor on a daily basis (as measured by the Hulbert Gold Newsletter Sentiment Index, or HGNSI).

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