Despite the recent weakness, it appears that gold is “starting to trigger.”

Gold Starting To Trigger
December 11 (King World News) – Gold is starting to trigger a few positive studies, but the Optimism Index isn’t down to a level that has led to rallies in the past (see chart below).

kwn-sentimentrader-i-12122017

A part of that is due to hedgers still holding a large short position against the metal, even after a pretty big cover this week…


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I’m tempted to add some exposure based on the studies in this report but am holding off for now.

King World News note:  While sentiment is on the lower side of the neutral zone for gold, it’s interesting to note that sentiment in the etf GLD has recently broken well below 20, hitting the “Excessive Pessimism” level (see chart below).

kwn-sentimentrader-ii-12122017

The bottom line is that there may be a bit more weakness in the gold market but it is very close to a turn, which is what Jason Goepfert is watching closely.  For those of you who accumulate physical gold and silver each month on a dollar cost average basis, do not try to get cute and time the market.  Instead, remain disciplined and make your purchases at the same time each month.  Despite the hysteria surrounding bitcoin, gold will have its day in the sun.

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