Hey IDC Holders
Mr Promnitz and his team continue to drill and find more and more high grade gold!
Just as the technicals for the price of gold are getting ready for the next upswing well past $2000/oz in the coming months.
Has anyone noticed that the Gold Price Chart has almost fully formed a very bullish Cup and Handle Formation over the last 7-8 months?
What this Technical Move in the price is waiting for is a Fundamental Event.
This will come in form of the Spanish Govt accepting an EU bailout towards the end of November when all their regional elections are completed.
This will give Mr Draghi the mandate to activate a Multi Billion Euro Round of Money Printing in order to begin purchasing Spanish Bonds on the secondary bond market to bring down their yields. This will compliment the US Federal Reserve's Open Ended QEIII which was activated last month of $40Billion of Money printing which is ongoing and is expected to continues well into late 2014.
Bank of Japan announced a $200Billion Quantitative Easing, as well as the Bank of England continually printing $45Billion on a month basis.
When you have the 5 largest economies in the world all printing money, price of gold is set to surge.
Once this handle is fully formed and this fundamental event occurs, we will break well above the $2000/Oz before Christmas 2012.
It is going to be an incredible time for gold bullion and gold miners on the ASX.
We have had two excellent announcements in the last 7 business days that contain more high grade gold assays!
We've got 31 drill holes to come, BFS commencement, Resource Upgrade etc etc!
Can't wait for Tony "Baby John" Burgess and David Meade to drill those 3 New Bonanza Gold ares on Mt Kare!
Overnight game changers for IndoChine Mining if they are cracking results like Porgera's Zone VII!
We saw what happened with SYR and SIR with a couple of cracking drilling results......:)
Hal your research and in depth knowledge of Mt Kare/PNG has been incredible!
Thank you very much for your valuable contribution to the IDC Thread!
Cheers Nectar
Add to My Watchlist
What is My Watchlist?