Gold News: Is the Market Stuck in ‘Low Gear’?

Seems gold just can’t catch a break these days.  Even after several weeks of reports saying this is the bottom for gold, trading markets are still stuck in low gear.  And sometimes reverse – this morning’s early trading shows gold falling below 1200 USD/oz again.  But wait – The British Are Coming!

The CFA UK (which we think stands for Certified Financial Advisors of the United Kingdom, but apparently it’s a secret) recently polled their members, finding a consensus opinion that gold was undervalued and a good investment at present levels. According to their internal Valuations Index, gold is a better value now than at any time since 2012Q1 when the index began.

Now that’s cheap.  Of course, we know that doesn’t mean gold is going to jump up today, but it does mean it’s probably not a bad time to tuck some away if you haven’t already. On the American side of the Pond, State Street bank opined that gold is likely to climb back up to 1350 USD/oz by the end of 2018, a bet they’ll probably have a hard time finding takers for. But well worth mentioning, just in case.

You can read all about the CFA UK survey in today’s featured article, which is very well written especially if done by a dry financial wonk. (just kidding)

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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