Gold Dropping as Predicted – Are You Ready to Listen Yet?

Gold is collapsing as I said it would over recent weeks, and as I reiterated recently in an article and in a piece about the Direxion Daily Gold Miners Bull 3X ETF (NYSE: NUGT) yesterday ahead of the predicted collapse in that security. The NUGT is now down roughly 44% over the last 3 trading days. So are you ready to listen to me yet?

Precious Metal Relative Security	YTD	TTM
SPDR Gold Trust (NYSE: GLD)	-3.0%	-11.8%
iShares Gold Trust (NYSE: IAU)	-2.8%	-11.7%
Sprott Physical Gold Trust (NYSE: PHYS)	-2.8%	-12%
Market Vectors Gold Miners (NYSE: GDX)	-18.6%	-31.4%
ProShares Ultra Gold (NYSE: UGL)	-8%	-24.3%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	-60.2%	-77.4%
Direxion Daily Gold Miners Bear 3X (NYSE: DUST)	+7.3%	+53.8%
iShares Silver Trust (NYSE: SLV)	-17.2%	-26.5%

Over the years, I’ve been on the long side of the gold trade and the short side of the gold trade, which has confounded many followers of my column. In fact, my articles have been criticized by people on both sides of the trade who are unaware of my historical record and see me as a perma-bull or bear, aka their enemy. It’s a real shame, because while people are arguing they are losing opportunities to enhance performance through a more nuanced and nimble trading strategy around the securities tied to gold. See my latest report on gold here.