On Gold's Time

"I will fire when I'm goddam good and ready! You got that?"
--Maverick (Top Gun)

Concerns about inflation finally seem to be making their way to the front page. But where's gold? While it's moved higher, gold hasn't exactly been zooming. 

Silver's been a bit perkier, and seems to be resolving a bullish-looking pennant pattern.

But still. If markets truly are discounting mechanisms, then shouldn't gold have sniffed out pending inflation by now? 

Of course, in the land of intervention ad infinitum, there is some doubt about the functionality these days.

Funny thing about gold, though. When it takes off, it has a way of leaving even ardent bulls behind. 

Gold isn't on our time. We're on gold's time.

positions in gold, silver