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[mss]

Opinions by MarketWise University             When you read our nightly MarketWise letter (BlackBox is obviously owned by MarketWise University).               Gold demand in the world (as followed by the Gold Fields Mineral Services group in London) FELL last year by 5.3%. According to their numbers, as gold prices rose, jewelry demand actually FELL 12.1%.  We all know that gold pays no interest, has storage costs, and central bankers hold 1/5th of the world’s supply; however, the “new” school of central bankers will soon be looking for a more productive asset and roll out of this precious metal as the hedge in case equities fall.  As we all know, this is not the proper hedge if the Fed begins to hike interest rates.                The rise in the HUI Index was not surprising, and at current levels it makes the most sense to simply wait on the sidelines and look to see if (a) Gold Bugs Index bids back to 210 and then a short there, or ( tests 186 and then we get a real test of support, or © simply, and most likely, consolidates from 200 to 190 and gives no real direction except that prices will most likely continue lower at a later date.

[hiker]

mss - thanks for posting this. Have a great trading day.