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7/12/14

The Kitco gold survey now resorting to outright lies to cover its pathetic tracks

Here at IKN, we've kept an eye on the pisspoor track record of The Kitco Gold Survey, in which a whole bunch of monkeys with dartboards consistently fail to make good predictions for the movement in the price of gold in any given week. To date and since we started watching on September 6th 2013, we've seen this:
  • 44 weeks of predictions, of which just 16 have been accurate.
  • In the weeks when more than 50% of participants choose one of the three options (bullish, bearish, neutral) the track record is even worse, with just 10 correct weeks out of 30.
And maybe, just maybe our careful tracking of their pathetic calls is starting to irk Kitco. That's because this week the person in charge of the weekly report. Debbie Carlson, has resorted to outlies bullshit lying in order to cover the tracks of the self-appointed experts (monkeys with dartboard is far more accurate. This week Carlson wrote:
"Last week, survey participants were mildly bullish for this week. As of 11:30 a.m. EDT, Comex August gold was up about $18 for the week."
When in fact last week's predictions were nothing of the sort, as according to Kitco's previus weekly report, of the 18 monkeys with dartboards that opined, just 7 of them were bullish on gold last week. Then another 8 were bearish and three were neutral. Bottom line, Carlson is a liar.

So, we already knew the people pretending to be experts were full of shit, now we see that the people reporting on these monkeys with dartboards as their very equal. Quite a reflection on a website and precious metals trading company that tries to pass itself off as the industry standard.