"Their wont be a short-covering induced spike in the gold price. Their wont be a default on the COMEX. No banks will go to the wall if a significant long demands delivery. Gold will go to multi-thousands an ounce, Im confident of that. But it will be a grind, not a moonshot."
I see it the same way SaturnV. The bullion market has gone from from a $1 Trillion market in 2001 to $5 Tr today. If you believe Rickards/Russell the market could become $25 tr.
The key to this is the difference between investment demand and disinvestment. Bullion holders will take profits all the way to the top, especially on spikes. The tide will eventually change as it did in the 90's, a fact the conspiracy guys completely overlook, and sellers will one day overcome the buyers again.
For the change we need to watch the macroeconomic situation, not MOPE that governments somehow control the gold price.
