I'm reluctant to call the market, but I think that Gold is a clear cut buy.

The market is not paying enough attention to the IMF's volte face. For 30 years since Reagan and Thatcher the IMF have slavishly followed the Washinton Consensus; namely that the pursuit of growth is best achieved through deficit cutting and trade liberalization. The IMF now advocate the delay of deficit cutting. Give politicians a chance to resist a hard choice and they will take it gladly. Every year , slow growth will be used as the excuse to avoid the painful medicine.

Similarly , inflation targeting, the mainstay of central bank policy since the 1990s.It is being questioned. We are in a period where deficits won't be addressed and inflation will be encouraged.

Gold, Gold Stocks, commodity stocks are all a clear cut buy