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What Has Hurt Gold Investors Most?

 -- Published: Wednesday, 27 January 2016 | Print  | Disqus 

By Avi Gilburt

In a recent article by Chris Powell From GATA, Chris attempted to address a concern of a follower who wonders “why have I bought all this gold.”  

You see, this is exactly what most followers of GATA, and others of their ilk, have been asking themselves.   Now, I don't want to imply that owning gold is a bad thing.  Rather, I am now in the camp that investors should be moving their long term capital back into the market, after suggesting to them to exit the market once we exceeded the $1,900 in 2011.  But, as they say, timing is everything.

When I see articles like this, it reinforces my perspective that much of what has been printed in this market for years has only hurt investors and not guided them in an honest manner.  Yet, GATA tries to hide behind their perspective that they do not provide analysis of the market, but only analysis of how the market is manipulated.  That is not wholly true.  You see, if you go back to 2011, as the market was strongly moving towards its all-time high, all you would find being printed on GATA were articles supporting the current bullish state of the market.  So, while they now try to hide behind a perspective of not providing “analysis,” back in 2011, it is quite clear that they were only supporting the bullish thesis.   

But, as this investor is learning only too late, GATA, and others like them, have not helped even a single investor further their true goal – to make a profit.  

When anyone places money into a market, their goal is most often to grow the value of their investment.  And any analysis which does not assist one in furthering this goal is truly worthless.  And, this investor has expressed this exact frustration shared by most in this market:

“What is the sense in buying gold only to end up with metal and no profit? Please explain this if you can. I am not greedy but would like to make some money for my later years."

In fact, I have seen post after post on many different sites and articles with the same plea and it breaks my heart.

Yet, Chris's response is simply “don't blame us, blame the government.”  Chris even admitted that GATA can show people everything about the market . . . other than how to make money in the market.

Anyone who is interested in learning everything about the metals market other than how to profit from the market should absolutely read GATA, and others like them.  But, if one is interested in making a profit in this market, then one should avoid these articles and websites at all costs. 

Before one invests their hard earned money into this market, one really needs to have an understanding as to “why” you are investing in this market.  After you have determined your “why,” the questions of allocation amounts and “when” follow.  I have discussed this in a prior article, which may interest you:

But, as we near the end of this long term correction, I beseech all of those who have held their metals positions for the last 4+ years through this decline that now is not the time to sell.  While I still think there will be one more drop in price in this market, selling on the impending drop will likely see you sell at the bottom of the correction.  If you have held this long, I suggest you now need to stay the course.  But, for the future, you may want to find a reputable perspective that can guide you as to when and how to profit in this market, which is the cornerstone of all investing plans, and to ignore all the other nonsense which does not further your investing goals.

See charts illustrating the wave counts on the GLD, GDX, and YI at

Avi Gilburt is a widely followed Elliott Wave technical analyst and author of (, a live Trading Room featuring his intraday market analysis (including emini S&P 500, metals, oil, USD & VXX), interactive member-analyst forum, and detailed library of Elliott Wave education.

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 -- Published: Wednesday, 27 January 2016 | E-Mail  | Print  | Source:

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