Howard Marks would disagree…. but in a new investment note titled “Gold Sneaky Strong,” Sterne Agee makes the bullish case for the metal that is often used as a currency substitute. Contrary to consensus – and global events working against the price of gold – the yellow metal has nonetheless recently risen in the face of difficult headwinds. In spite of the Swiss Gold Referendum being defeated, crashing global oil prices, the dollar achieving five-year highs, and record U.S. equity performance – all events that would normally depress prices – gold has recovered strongly from recent lows and looks to…
Gold The Bullish Case [CHARTS]
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.