In Gold We (Still) Trust

It's been a tough few days for precious metal investors, with gold easing back toward USD $1170oz. The major damage was done earlier in the week, when high hopes of a resolution for a deal in Greece led to a sell-off, and the market hasn't gotten it's mojo back, with the dollar helping keep gold subdued. Short-term, a move lower toward USD $1150oz is possible, though local investors are likely to have any pullback cushioned by the AUD. Overnight, Incrementum AG released the ninth edition of the annual IN GOLD WE TRUST report, a must read for anyone interested in the precious metal market. It looks at the gold market from a variety of angles, discussing the still unresolved technical picture, a look at the global gold price, sentiment, gold stock valuations and ratios with gold itself. It also has some interesting statistics on gold in the context of portfolio diversification, a key area that is often overlooked in the sometimes emotional discussions we see regarding gold and its role in the modern economy, monetary system, and portfolio. (VIEW LINK)