Gold futures posted the biggest gain in almost two weeks as demand for bars and jewelry increased in India and China, the world’s largest consumers of the metal.
Imports by China from Hong Kong more than doubled to an all-time high in March, Hong Kong government data showed yesterday. India’s purchases are set to top 100 metric tons in May for the second straight month, according to MMTC-PAMP India Pvt., a bullion refiner. Last month, gold had the biggest two-day drop in 33 years, slumping into a bear market. The metal has climbed 12 percent from a 26-month low on April 16.
Bloomberg
Jim Rogers:
"Certainly, over the course of ten years gold will go much, much higher because I don’t see any possibility that governments are going to stop printing money in the next decade. And as long as that’s going to happen then gold is certainly going to go higher and probably much higher."
Morningstar UK
Top Citi analyst Tom Fitzpatrick "investors should expect to see massive surges in both gold and silver after the correction runs its course."
We also believe that the gold price will eventually hit $3,500 an ounce. If we were to hit a new low followed by a near triple in the price of gold, that would take you to the $3,500 target.
James Turk:
John Embry:
Top Citi analyst Tom Fitzpatrick "investors should expect to see massive surges in both gold and silver after the correction runs its course."
We also believe that the gold price will eventually hit $3,500 an ounce. If we were to hit a new low followed by a near triple in the price of gold, that would take you to the $3,500 target.
James Turk:
We all know that the gold market consists of two distinct segments, namely, paper-gold which is a financial asset that gives you exposure to the gold price but comes with counterparty risk, and also physical gold. Because physical gold is a tangible asset, it is different from paper-gold. Physical metal, whether gold or silver, does not have counterparty risk and is therefore a safe-haven. It is money outside of the banking system as you and I have discussed before.
The shortages of these products that exist at the moment are very apparent with many dealers, mints and refiners reporting that they have no stock to sell because of demand.
These shortages are the result of a fabrication bottleneck. In other words, the surge by retail buyers pretty much everywhere in the world has resulted in a demand that cannot be filled. They have opened their pocketbooks to buy coins and small bars on this last takedown in prices. The fabricators who make these coins and small bars just do not have the manufacturing capacity to ramp up production quickly enough to supply the product needed to meet this heightened demand.
We've seen this same situation several times over the last twelve years. It is what I have been calling a “managed retreat.” Despite the current weakness, I firmly believe we have again entered a critical period where the central planners will need to retreat once again in order to let the gold and silver prices climb higher.”
The shortages of these products that exist at the moment are very apparent with many dealers, mints and refiners reporting that they have no stock to sell because of demand.
These shortages are the result of a fabrication bottleneck. In other words, the surge by retail buyers pretty much everywhere in the world has resulted in a demand that cannot be filled. They have opened their pocketbooks to buy coins and small bars on this last takedown in prices. The fabricators who make these coins and small bars just do not have the manufacturing capacity to ramp up production quickly enough to supply the product needed to meet this heightened demand.
We've seen this same situation several times over the last twelve years. It is what I have been calling a “managed retreat.” Despite the current weakness, I firmly believe we have again entered a critical period where the central planners will need to retreat once again in order to let the gold and silver prices climb higher.”
“I was absolutely outraged to be quite honest with the jobs report on Friday in the United States. If you applied logic and actually looked at where these jobs were created, I don’t think there is any possible chance that those numbers are correct....
“Gold and silver are their (the central planners) worst nightmare. The fact is they have to print unlimited quantities of money in every Western nation just to keep the thing from imploding.
Now if the gold and silver prices were correctly reacting to this, i.e. they were rising sharply in price as they should be, then the whole scam would be revealed for what it is. Interest rates would start to rise precipitously and the thing would collapse.”
“Gold and silver are their (the central planners) worst nightmare. The fact is they have to print unlimited quantities of money in every Western nation just to keep the thing from imploding.
Now if the gold and silver prices were correctly reacting to this, i.e. they were rising sharply in price as they should be, then the whole scam would be revealed for what it is. Interest rates would start to rise precipitously and the thing would collapse.”
WorldKingnews
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