Although I recently wrote about how bullish I was, along with many other fund managers are about gold, in the near term, gold and particularly the major gold producing company’s stocks have taken some serious technical damage that may take some time to recover from. Although, free money policies and the debasing of currencies that all central banks around the world are actively pursuing is supposed to be good for commodities, particularly gold, it doesn’t appear to be the case recently. Today I will show you some charts so you can see why I think the gold story has changed somewhat… at least for the foreseeable future. I think the primary factor that is hurting the precious metals space is the fact that all official numbers show there is no real inflation to be seen. Although these figures could be refuted, the fact of the matter is that gold is a great hedge against inflation, and if there is no inflation, then the theory is that there is no need to buy gold. This is hogwash, but as it stands, it is the case at the moment.

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