Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Wednesday, August 20, 2008

Gold in Them Thar Hills

My latest column, "Gold in the Clouds," is up. It's about the Pikes Peak Gold Rush.

Flash forward to today, and there is some interesting news ...

The World Gold Council reported that demand for gold rose 7% to 736 metric tons in the second quarter, compared with the first quarter.

Meanwhile, the Comex division of the NewYork Merc reports that gold bullishness (measured by open interest, or number of contracts) is down sharply.

Does that sound maybe like people doing the wrong thing at the wrong time, as traders so often do?
Oh, and I also talked to Tom at You can listen to the webcast here.

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