… reads the headline of a Financial Times article, on the day that gold prices plummeted some $20.
Reading beyond the headline reveals a more balanced picture from the quoted precious metals analyst, who says:
This is not a table-banging recommendation to buy gold; although the balance of arguments favours a move to the upside, any deterioration in sentiment could trigger profit taking.
I don’t read the financial press much these days, and this article reminded me why. Almost every piece boils down to ‘we with think it will go up … but it may down’, or ‘we think it could go down … but it may go up.’ It is all very tiresome and repetitive. I appreciate this is essentially what market research is all about, but I have a question:
If any piece of research is worth its salt, why publish it to the public? My answer is that it’s mostly worthless, which leads to the catch-22 is that any research that is published isn’t worth reading.