Generally it’s a good thing if commodity indices are at a low point if you are predicting a major new bull run in gold is about to get underway. At the start of the last big run in 2001, we saw a 30% sell off in commodity indices like the BCOM. During the same 12 month period gold slowly trended upwards. The commodity index hit its low and boom, gold was back in the room.

Makes you think, doesn’t it ?