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Right To The Breaking News That Matters…
We Are In The Early Stages Of A Massive Short Squeeze In Gold – John Hathaway: Sentiment is ripe for a complete reversal on gold, and a very sharp one. We know the market is structured in a way that is very vulnerable to a short squeeze, which I think has already started to take place, but we are still in the very early stages of it. We have had a lot of false starts in the gold market, but this one sure looks like a massive upside reversal will soon be upon us.
Why Gold Will Make A Comeback – Central bankers like Ben S. Bernanke may tell you that banks hold gold bullion only for sake of “tradition,” but gold traders know otherwise — gold is real money, and despite what bankers, economists and mainstream investors have been saying, their actions show they are terrified of a coming currency crisis.
The $8 Trillion Gold Story Nobody Is Telling You – What would convince you beyond any possible doubt that Shah’s right to predict a historic rebound in gold over the next 12 months?
Yes – it’s if the bullion banks started accumulating long positions on gold. Well, barely a month after their “coup” to intentionally crash the gold market to cash in on their multibillion-dollar shorts…The bullion banks have suddenly completely reversed their stance on gold.
That’s right: As of May 14th of this year, the bullion banks are “net long” on gold for the first time in six years. Now, if that doesn’t get you juiced up about the chance to bank dozens of triple-digit wins on a sudden upside move in gold…
I don’t know what ever could. Why are the bullion banks betting on a gold comeback all of a sudden? According to Shah, there are four virtually unstoppable drivers that prompted him to tell his readers on June 21st: “I believe spot gold is going to $2,500 in a year.” And all of them are in chain reaction to the “gold coup” that rocked the markets on April 12th and 15th of this year. Here they are right now…
Rick Rule – Here Is The Investment Opportunity Of A Lifetime – I don’t think the market needs a catalyst. All of the catalysts that were in place in 2009 and 2010, all of the narrative that drove the gold price higher, has never gone away. Not one thing has changed. The only thing that has changed is that Bernanke and company have managed to convince the equity markets that liquidity is a substitute for solvency. This is something that history has proven conclusively isn’t true. The bottom line is I think these markets will now rise just because they rise. We will run out of sellers.”
This important fundamental for gold and silver: “Increasingly we are seeing companies shutting down their marginal gold and silver production. This says a lot about the industry’s ability to maintain itself at the current gold and silver prices — it’s basically non-existent. This is yet another sign that is perversely very, very bullish ultimately for the gold and silver equities, and also certainly for gold and silver prices.”
Leaked IMF Report Shows Dangers For The US Economy – A confidential internal International Monetary Fund report was recently leaked to the Wall Street Journal, with the contents later being made public by the IMF. The contents of this report have major implications for Europe, but even greater implications for the United States.
Most of the press attention is being paid to the legalities associated with the report, and revolve around what the International Monetary Fund knew, when it knew it, and whether it properly acted within its charter at various points. However, what is being overlooked is the truly explosive information that comes in the form of what the IMF admitted (in this internal report to itself) when it came to miscalculations about “austerity”, and closing budget deficits.
When Ben Bernanke speaks, the gold market listens – closely. The Federal Reserve chairman’s comments late Wednesday that the central bank would continue its QE3 economic stimulus for now drove gold prices higher, and they’re likely to keep rising. That’s because investors need a hedge against quantitative easing, which looks like it’ll be with us for the foreseeable future, and that’s good news for gold prices.
Bernanke’s comments, which came in a Q-and-A session after a speech Wednesday, provide the latest indication the Fed will continue QE. That, in turn, will push gold prices higher. Easy-money policies by the European Central Bank and the Bank of Japan also will help prop up gold prices.
The Asian Giant Stampeding into Gold – I recently discussed how traders were stampeding out of gold as a result of rising interest rates and the threat of evaporating monetary fluid that was lubricating markets. Hovering around $1,200 at the beginning of July, the gold price has completely disconnected from the precious metal’s fundamentals in my opinion.
Prices have fallen too far out of fear, but the drivers for gold are still in place. In this environment, gold should remain attractive. However, as the West flees the precious metal, another set of gold buyers has come forward with the aim to preserve wealth. Take a look at the chart below which shows total gold production compared to the gold deliveries on the COMEX and the Shanghai Gold Exchange. In May, gold imports into the Asian giant rose to the second-highest level ever.