Poll of the Day Recap: 77% Bullish on Gold Through 2014

Gold futures jumped sharply today to their highest settlement in nearly four months amid a pullback in U.S. stocks. Gold for August delivery climbed $14.90, or 1.1%, to settle at $1,339.20 an ounce on the Comex division of the New York Mercantile Exchange. The most-active contract hasn’t settled this high since March 19.

Gold is up over 10% YTD and is on Hedgeye’s Investing Ideas via GLD.

When growth surprises to the downside, and a run-up in prices for everyday necessities people actually consume increases, individuals obviously have less money to spend. Accordingly, Gold’s breakaway from the broader commodity complex and stronger linkage to the dollar and forward looking monetary policy makes intuitive sense.

In today’s poll we asked: Are you bullish or bearish on Gold through 2014?

 

77% of respondents voted they are BULLISH on Gold, while 23% voted BEARISH.

In the one-minute video below, macro analyst Ben Ryan briefly discusses some of the reasons we became bullish on Gold and added it to Investing Ideas.

As one respondent commented, “Jim Rickards' snowpack grows every day. Avalanche not an if but a when. “

More to be revealed.