Rosland Gold Commentary – Take Comfort in the Long Term
By: Jeffrey Nichols
Gold bulls, ourselves included, have suffered a disappointing year. Rather than ending 2016 on a strong note, the biggest surprise to many was the failure of gold to surge higher in the wake of Donald Trump’s election as the next president of the United States.
For a moment, as the polls closed on Election Day, we thought Trump’s victory would create the sort of uncertainty upon which gold typically thrives. Instead, contrary to expectations, Wall Street has since zoomed to new all-time highs and gold has disappointed fans of the yellow metal.
One thing is for sure: In the short run, financial markets – including gold – dance to their own tune and short-term forecasts, even when based on serious analysis, are often wrong.
As I’ve said many times, I don’t like making short-term predictions about the future price of gold. People who do are usually very lucky or very wrong.
That said, although a l…