Gold surged 3% higher today (as of this writing), pushing back toward all-time highs. This comes just days after the Macro Tourist crowd prematurely called the rally over.
Not so fast.
As Hedgeye CEO Keith McCullough explains in this clip from The Macro Show, last week's pullback was simply a buying opportunity—an oversold setup in what continues to be one of the top-performing assets of the cycle.
“There’s an explicit positioning [in gold] that’s not bullish enough,” McCullough says. “Gold’s been the number one decision you can make. If you haven’t had this right, you don’t do macro.”
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