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Don't Like Gold for Now

|Includes: SPDR Gold Trust ETF (GLD)

At some point inflation will become a problem, and the markets will anticipate it to some degree. But deflation is the order of the day, and positions in inflation hedges like precious metals could suffer significantly between now and an meaningful resumption of inflation.

The charts for gold and silver are looking toppy as well and we may be in for a signifant leg down.

It's still about debt destruction and deflation for the short to intermediate term. Gold has been a safe haven from stocks and fiat currencies, but that trade is crowded and may be playing itself out.

I didn't write this as a comment to the plethora of articles on gold because I'd get too many negative ratings; and it would bring down my "comment stream" score.

Does the comment stream score inhibit a lively debate by discourage opposing points of view? It does for me!