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5/2/14

Bullish news for gold

A full 57.9% of the monkeys with dartboards at Kitco think that gold's going to go down next week. By way of reminder, when their "expert" verdict is over 50% on any direction (up, down or unchanged) gold does the opposite 2/3rds of the time. And for the record, they're on course to fail again this week, we'll know the result in three hours' time.

Monkeys. With. Dartboards.

UPDATE: And sure enough, the week just closed was predicted to be bullish for gold by 63.2% of the Monkeys with dartboards. The result: a -0.31% move on the week. That makes just 13 correct weeks out of the last 34 overall, and only eight times correct out of 24 when the signal is a strong one (i.e. above 50% in any option)