Gold investment? Strategist Analyzes Why “Nobody Needs Their Stones”

J C, founder and Chief Strategist Of All Star Charts Parets stresses that he thinks there is a significant problem in the gold market.

The price of gold fell from $ 1,800 an ounce over the weekend to $ 1,695 an ounce Gold.org it was trading at $ 1756.30 at the time of writing.

 
Parets told Yahoo Finance in a new interview that he believed the precious metal was actually one of the worst investments of the past year.

“No one wants their stones, do they? Well, this is what happens. No one wants your stones. Inflation, deflation, disinfection, Trump-Biden-gold bugs came up with every story about why gold should grow, and that didn’t happen.

In fact, it would be hard to find a worse investment than gold last year. I mean, literally, you can buy anything you want and that brings money, but not gold. So this is really the worst of the couple. And even commodities-literally all goods in the world are more expensive except gold…

It is clear that there is an overwhelming supply of gold relative to demand for it.”

The strategist also believes that there are many stories and conspiracies in the crypto world.

“The only thing we know about crypto Sundays is that there’s always a date, some kind of conspiracy theory about why it grew or fell on that day, week or month. There is always a story or something. Sometimes it’s true, sometimes it’s not, so we just stay away from these rumors and focus on the only thing that makes a profit, and when you look at this price and the bitcoin chart, which costs $ 30,000, it looks like a back-to-the-future scene where Biff says, “this sounds very familiar.” This looks familiar.’

It reminds me of the S & P 500 in the summer of 2010, when there was a kind of monstrous push and then a consolidation that looked like the top of your head and shoulders.”

S & P 500 index adjusted for summer 2010 to continue

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