Is Mr. T Good for Gold?
Pity the gold.
That's because Mr. T the 1980s cultural icon famous for his Mandinka haircut, huge biceps, colorful language and lots of gold bling, is set for another comeback of sorts, even though the former star of the TV hit show The A-Team won't appear in this summer's movie of the same name.
Every time Mr.T re-enters the public consciousness, gold prices abruptly change direction, says Kevin Depew, editor in cheif of the financial-commentary Website Minyanville.com, which created the Mr T. Gold Indicator, to track the coincidence. Gold was trading for about $1,111 an ounce Thursday, up from the $700 range late last year, and Depew thinks the outlook is bleak.
"It's going down," perhaps to as low as $600 an ounce, he says.
A former bouncer, Mr. T first achieved fame in 1982 as Sylvester Stallone's boxing nemesis, "Clubber" Lang, in Rocky III. Gold subsequently surged to $500 from $300 an ounce. Mr. T then starred as Sgt. Bosco Albert "B.A" Baracus on the A-Team, which ran from 1983 to 1986. Gold dropped as low as $284 in 1985.
In June, The A-Team will open in theaters with Quinton Jackson, a former Ultimate Fighting Championship light-heavyweight title holder, in the B.A. role. But the presense of the original B.A. surely will be felt.
The chain-bedecked Mr. T is tied in our subconscious with the yellow metal, says Depew. Whether or not you believe that, it might be time to sell gold. Better stay away from Mr. T-bills,too.
~ Tom Sullivan