Hard Assets Investor Sees Glimmers Of Hope

Although he doesn't hold out any unconditional hope, Brad Ziglar of Hard Assets Investor does say:

Watching gold prices rally from a $1,045 low notched in early February, you can sense the accumulation. Overall open interest has been built up by 20,000 contracts following the price breakdown, though there was some liquidation selling Monday.

The proffered catalyst for a run above $1,127 is none other than the stock market. The last chart in his Seeking Alpha article shows the 30-day rolling correlation between the S&P 500 and gold at a historic high of +81%. "In our unconventional atmosphere, gold bulls ought now to hope for some good stock news. Go figure."