An overnight piece from Bloomberg on gold, Deutsche Bank very bearish on it

Comments from Deutsche Bank Chief Global Strategist Binky Chadha, says:

  • "Positioning is very, very long"
  • "The way we think about it is, gold looks to be 20 to 25 percent overvalued"

Chadha cites:

  • Mounting expectations for a rate hike from the Federal Reserve in December
  • Stronger dollar
  • And, even more importantly, a recovery in global growth ... "I would argue it's more likely a tick-up in U.S. growth on which we remain constructive and therefore global growth"

More here at the article

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We should probably take the view from DB seriously. I mean, who else but DB is so eminent an authority on a price crash?

AmIright?

(OK, off to the naughty corner for me)

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Gold, daily: