Gold, overdue for a near-term pullback

Posted by David Rosenberg - Gluskin Sheff

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I love gold, but it seems that this market is long overdue for a near-term pullback


In Today’s Breakfast with Dave

• While you where sleeping: it’s a miracle, everything continues to rally

• “They’re making a mistake, the ones that are buying the bonds … It’s quite clear that stocks are cheaper than bonds…” Is Warren Buffett correct on this one?

• ISM … up or down? A softer manufacturing data point was shrugged off by the markets, then a better non-manufacturing result was the launching pad for a huge rally

• Consumer fatigue: there is a prevalent view that the American consumer is doing just fine… if 2% growth that is underpinned by government life support is “fine”, then we know we are into a new paradigm

….read full article HERE