A look to the protuberance of gold vs the S&P this year
Ned Schmidt joins me today to share his thoughts on the moves in the US markets compared to the precious metals prices. We touch on the extreme positioning of the speculators in the VIX which is pointing to peak complacency. When it comes to gold Ned likes the way the miners and gold price have performed.
Ned is a pro and was one of the very few gold analysts who didn’t have a gold target of thousands of dollars in the years leading up to the 2011 top. Hid target was 1550 and that probably would have nailed the top if not for the big boys unleashing the likes of Cramer and Roubini to aggressively promote gold to the masses. Roubini was especially bad as he turned wildly bullish just weeks before the top and had been a nasty bear for the entire time that gold was a good deal.
His not “Hid”
Great listen. Love Mr. Schmidt’s explanation of the VIX. It’s so obvious what he is saying yet few see it he way he does. He’s got one convert here. The VIX does represent exactly what he says. Thanks Cory.