• It's Here!

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

  • It's Here


    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

We didn’t add Gold (GLD) to the long side of our Macro Best Ideas until we could see what Gold loves more than anything else (Down Dollar, Down Rates – at the same time) in play.

An Update On That Barbarous Relic Gold | $GLD - zzzzzz gold

The question now? How fast can the U.S. data slow before ECB President Mario Draghi has to do EuroQE? That will be an up-Dollar #Deflation event. Stay tuned.

Back on August 28th, we advised Hedgeye subscribers to buy GLD in Investing Ideas. As you can see in the chart below, the recent run-up has been a profitable one for our subscribers. (Our view was based on slower U.S. economic data and our view that the Fed would keep rates #LowerForLonger.)

Since then, GLD is up 5.1% versus the S&P up just 1.9%. Right now, as an immediate-term trade, Gold looks overbought. It’s time to book some gains. 

An Update On That Barbarous Relic Gold | $GLD - keith twitter gold

Editor's Note: Click here for more non-consensus investing ideas.