By Ross Norman
There is probably no more irritating an adage than the old Wall Street one which says “no one rings a bell at the bottom or top of a market” … but it does highlight the purpose or value of making a trading call — or if you prefer (as it is the season for it) … in making a forecast.
No one wants to be too early in calling a bottom in gold as your career would then be aligned with those slightly unhinged permabulls that have been calling for a massive move up in gold year after year — and been permawrong. Nor do you want to be too late — because that would make you, well plain dull.
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