The Shanghai Gold Exchange isn't going to make any difference. Just because someone sets up a new car sales yard does that mean that the price of cars is going to go up?
The Indian and Chinese love affair with gold's over, once bitten twice shy. Seasonality isn't working this year as I've already stated many times and I've also said here many times in the distant past when gold crashes the money will go into equities, which it has.
I see equities continuing on their merry way for quite some time yet and gold will decline, probably ending around $700/$800.
Yeah, the goldbugs and the gold 'experts' have been rubbishing me for years but I'm right and they're wrong. Mike Maloney, John Embry, the Aden sisters, Jim Sinclair, Jim Rickards, Martin Armstrong, (now out of jail), Eric Hommelberg, James Turk, Doug Casey, John Hathaway, Alf Field (praise the lord), Bob Chapman and all the other Schiffheads have got it wrong and I've got it right, a mere airline employee without a university education and years of unparalleled experience in the gold industry like our resident gold 'expert' Daytr.
