Chad, I do not agree- Gold has been manipulated down for 3 years- Its at a bottom or its notn however; There is additional buying at this level that some investment houses do not want to acknowledge.
Lets see what happens!
The Western gold analyst who call for 1000 ounce gold prices are trying to ignore what Putin is doing- Ignoring it will not work.
Can not ignore what Russia/Putin is doing. They are already forcing us all pay more and have changed the direction of the Gold market.
They are forcing us all to pay more now and into the future.
Look for Gold to retest 1400 in the coming months!
After analysis of this new information shorts are going to start closing their positions, imo.
He is gong to keep buying gold to stabilize the ruble. As gold moves higher the Russian currency situation will strengthen. He is going to try and break the West's sanctions with Gold leveraging!
They were caught dumping large quants of Gold at in between market intervals on the world gold exchange (at the gold desk) which has the effect of artificially lowering the gold price when no buyers are available. I suspect the other names will soon come to light!
I suspect Gold will move alot higher from here!
More to follow...
Concur- Buy Low sell High!
Some like myself consider this quite a buying opportunity below $.5.00 a share.
The Chinese Gov is doing the buying not the Chinese citizen. They will continue to do so until they can make the case they control the majority of gold in the world. Look at what they are doing in Africa.
Wake Up Folks!!!