---
title: "Scaling In"
url: https://independentstockanalysis.com/scaling-in/
description: "It’s Do or Die time for Gold . For the last month we have chronicled the potential gold bottom. Either gold breaks and we calmly walk away, or we are…"
published: 2013-03-22
updated: 2013-03-22
---

# Scaling In

Published 2013-03-22

Posted on

by

J.J. Butler

It’s [Do or Die time for Gold](http://www.thereformedbroker.com/2013/03/20/do-or-die-time-for-gold/). For the last month we have chronicled the potential gold bottom. Either gold breaks and we calmly walk away, or we are still in the toehold of a historic rally. Regardless, speculators with starter a position in [GDX](http://stockcharts.com/h-sc/ui?s=GDX&p=D&b=3&g=0&id=p81592273523) would be looking to add on this strength…

“The ratio of the largest gold miners’ enterprise value to their earnings before interest, tax, depreciation and amortization dropped to 6.3, less than half the multiple at the end of 2010, data compiled by Bloomberg show.” [Bloomberg](http://www.bloomberg.com/news/2013-03-20/gold-giants-shrink-to-fit-as-paulson-pushes-breakup-commodities.html)

The thesis for higher gold prices remains intact ([Sober Look](http://soberlook.com/2013/03/the-thesis-for-higher-gold-prices.html)).

[Jim Sinclair](http://www.jsmineset.com/) has been in peak form.

The Fed is not “printing money” says [Scott Grannis.](http://scottgrannis.blogspot.com/2013/03/the-fed-is-not-printing-money.html) He make a fantastic case but the comments provide quality rebuke.

The Periodic Table of Commodities Returns 2012 by [U.S. Global Investors](http://www.usfunds.com/interactive/the-periodic-table-of-commodities-returns-2012/).

Hans again: Australia sees iron ore prices only getting worse at [Mining](http://www.mining.com/australia-doesnt-see-iron-ore-prices-getting-any-better-77704/).

Revisiting: An end to the commodities Super Cycle at [Black Swan Trading](http://www.blackswantrading.com/storage/currency-currents/032113%20bscc%20crb%20supercycle%20revisit.pdf).