start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

5/17/14

Another week of mediocrity from the Kitco gold price monkeys with dartboards

We keep the running score on the self-proclaimed experts at Kitco who try and fail to predict the weekly moves in gold. Last week 45.8% of them said gold would drop, with 25% saying gold would rise and 29.2% saying it would remain neutral. The result was that gold rose by 0.32% (using our trusty GLD proxy). In other words another fail, which now makes the running total 14 correct predictions over the last 36 weeks.

Monkeys. With. Dartboards.

For the record, this week the strongest pick is 44% of them saying gold will have a neutral week, with 32% of the monkeys bearish and the remaining 24% bullish. So for us in the real world, that looks fairly optimistic for the gold price.