Gold is jammed into tough overhead resistance.
As David Rosenberg observes:
Did you know … that the gold price has quietly turned in a 16% price advance so far this year and barring a major reversal, this will be the tenth year in a row that the yellow metal has generated a positive “return” for investors. That compares with nine winning years for Treasuries, seven winning years for the broad commodity complex in general, and coming in last, is six for the equity market. The trend is your friend and it is likely with this relative performance in mind that retail investors have yanked money out of U.S. equity mutual funds now for 17 weeks in a row!
