certainly a super pumped view on gold their Goldmick. MAny opinions in play for a long time
Interesting how she moved off the 1150 level with fear of Euro debt crisis, then got the resent boost with the fear of money printing, now getting another boost with the fear of Euro debt crisis......And even more amazing imo is the fact that all the talk of the USD and Euro pair being in trouble, its about the same level 140 a few years back that popped the yellow metal over $900...seems overbought to blazes to me, but if its rising and your long great....there are some risks, even when the data improves out of the USA resently, earnings, unemployment etc etc, USD gains and Gold still moves up,,,,,,seems like leveraged investment to me
From that presentation, it seems to confirm my view that this rise is nothing more than hyped investment demand, and enormous bubble, the course of which could continue for some time or reverse,,,,but looking good so far.. I wonder if the central banks have all agreed not to sell gold in the hope that the inflated price will allow the PIIGS to liquidate and pay off their debts?
That presentation confirms that investment demand is the sole driver as it is taking over as the main buyer/ sole driver..
"Net retail investment demand plus ETF?s as a percent of total identifiable gold demand estimated at 45% for 2010",,,
thats and enormous increase as traders move into the space.......
Interesting times
NCM Price at posting:
$42.65 Sentiment: None Disclosure: Held
