$1380 - $1420

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31/08/14

19:27

Post #: 13901896
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Originally posted by siameseparrot ↑

1. The Shanghai physical gold exchange is due to start trading soon.

2. The demand for physical gold continues to remain very strong. How much more gold is there that can be transferred from West to East?

3. There is a referendum later this year asking the Swiss people if they want the nation's gold returned to Switzerland.

4. There is turmoil breaking out everywhere - eg. Iraq, Syria, Ukraine.

5. There is increasing economic and financial chaos in Euroland, Japan and the USA, despite the mainstream financial media spin. Eg. Euroland is sinking deeper into recession/depression and the calls for QE are growing ever louder. US consumer spending dropped in July.

6. Meanwhile the gold price continues to consolidate despite all the bearish calls for US$1000 and lower. I even saw a newsletter predicting US$930 - typical of bearish calls when a nasty correction has run its course - and completely divorcing the gold price from economic reality as the current costs of production for most gold miners is well north of US$1000, leaving them with next to nothing for exploration and increasing production/expansion.

I expect something will become the light that sets the gold price on fire, and once this happens gold will then respond positively to all the numerous bullish fundamentals that it should currently be soaring on.

I'm anticipating a minimum gold price of US$1650.00 by 31st. December, possibly hundreds of dollars higher.

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$1380 - $1420
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