Who is the saviour of gold?

A COMMON mantra in trading is "when the last bear turns bullish, it is time for you to sell". I was sceptical at first, but this saying appears to have played out in the gold market just recently.

After an impressive performance in the first half of 2016, gold prices have become harder to predict. The third quarter has been particularly volatile for the yellow metal.

Contrary to what buyers anticipated, prices plummeted below the psychological US$1,300 level within the first month of the 4th quarter.