Despite recent price action, folks remain bullish on gold...

While the price action in gold has confirmed (as we've hinted) our near-term (bearish) sentiment on its prospects, others (the majority I suspect) clearly see it differently.

As evidenced by September's second largest monthly inflow into gold ETF's this year, just as the price delivered its worst monthly performance since last November:

click to enlarge...


Again, if we're right on the present economic setup, we may see a reversal in sentiment, and a continued slide in the price, in the coming weeks. However, alas, there's still North Korea...