Two things have prompted me to post this.
- The year is drawing to a close and it is interesting to see where the big moves in commodities have been. The agricultural sector has lead the way.
- Apparently gold went up 0.03% last night which caused my Linkedin feed to light up with people once again proclaiming that a new age was upon us. This is a perfect example of an attachment to an instrument becoming more of a religious belief system rather than a rational dissection of the actual evidence. At present gold is down 6% for the year and without a massive reversal in the next 20 days it is hard to see this changing.