The hourly chart reproduced alongside should dispel any notions we might have about catching the next wave in Gold.  For in fact there are no waves in evidence at the moment — other, perhaps, than the sine wave generated by this brain-dead Comex contract in recent weeks. The futures are trading almost exactly where they were two months ago, notwithstanding the crisis in Europe, mounting evidence of a global economic slowdown and  a plunge in consumer confidence around the world.  Perhaps hotter heads will prevail when the markets return to life after a five-day sort-of-holiday in the U.S.?  On the other hand, speculators may have completely forgotten what caused them to binge on paper claims to gold, stocks and crude oil on word last Friday that Europe had agreed to loosen the rules that have governed bailouts up till now.  (“Rules!? When we bail out banks here in America, we don’t have no stinking rules!“) Like to get on top of the markets in real time? Click here for a free trial subscription to Rick’s Picks.