Rather than shine some light on perhaps the only sector that...

Rather than shine some light on perhaps the only sector that will likely benefit from the market chaos that we have experienced - not to mention the chaos still lying in wait up ahead - it seems that Bloomberg can't wait to pour cold water on gold after a promising bounce on Friday night.

Bloomberg has completely missed the rise in gold since the mid $US200's - over 8 years ago. Now I wonder who actually owns Bloomberg. Let me guess......The BIG Banks?

ARTICLE

Gold faces sell-off

http://business.theage.com.au/business/gold-faces-selloff-20081124-6ezg.html

November 24, 2008 - 7:01AM

Gold may fall for the first week in four on speculation that the 10% price gain in November will spur investors to sell the metal to raise funds and cover losses in other markets, including equities.

Eighteen of 40 traders, investors and analysts surveyed from Mumbai to Chicago on November 20 and November 21 advised selling gold, which rose 6.6% last week to $US791.80 an ounce in New York. Seventeen said to buy, and five were neutral.

Last week's gain was the biggest since September 19 and the metal is headed for the largest monthly rise since January. Gold plunged 18% in October when the Standard & Poor's 500 Index lost 17%. The S&P is down 23% this month.

Most analysts surveyed on November 13 and November 14 anticipated gold's gains last week. The survey has forecast prices accurately in 142 of 238 weeks, or 60% of the time.

COMMENT
My view is that obvious Suppression/ Manipulation isn't going to matter much over time. Gold sure looks to me like a kettle boiling away with its lid stuck firmly in place. Well for now it is....but that will change.....and it will be dramatic when it does!

The lack of availability of physical gold all over the world, (at the nonsense prices struck on the Comex through the shuffling of paper contracts), provides a clue. A case in point is the Perth Mint. They can't supply any of the real 'yellow stuff' unless you join a very long queue.

The expert analysts quoted by Bloomberg, (as if......LOL) would do better reading Sinclair (who has been spot on for 8 years) than trying to make predictions. The more likely situation behind the article is that the journo was simply told to make something up....and quick....before the cat gets out of the bag.....LOL

These are certainly interesting times we live in!

It won't be long before those not being able to get physical supply wil turn their attention to decent companies like IGR, with quality resources safe and sound in the ground, and in quantity.

By the time IGR get around to mining, they will have a far different operating outlook than exists at the moment. Till then.....we simply need to be patient.

Cheers
Nev