Gold's Artificial Lows - Price Surge Coming

• Today’s Gold prices were USD 1,094.80, EUR 998.50 & GBP 707.74 per ounce
  Friday’s Gold prices were USD 1,091.35, EUR 998.99 & GBP 703.01 per ounce
  [LBMA AM prices]

  

  Gold in USD – 1 Year
  

• Last week, gold and silver were mixed with gold marginally lower for the week – down 0.28% to $1,092.10 and silver up 0.4% to $14.77 per ounce

• Platinum and palladium are 0.74% and 0.5% higher to $973 and $607 per ounce respectively

• This morning, gold is 0.1% higher to $1,096 per ounce. Silver is up 0.74% to $15.02 per ounce

   Gold's Artificial Lows - Price Surge Coming
  

• Sentiment is off-the-charts bearish, with traders universally convinced gold is doomed to spiral lower indefinitely.  
• But gold’s weakness this year is very deceiving, as it wasn’t the product of global fundamental supply-and-demand forces

• Extreme record shorting by American futures speculators spawned these artificial lows
• Gold’s imminent short-covering rally should be the largest ever, coming from record extremes

Continue Reading Gold’s Artificial Lows

Comments

[lasvegaspersona]

Physical gold imports count as a negative on a country's balance of trade. Interestingly if you buy GLD it counts as 'foreign investment' and therefore a plus on the capital account. 

This is because gold is treated like bananas not money. 'Jewellery' is really not that. In many countries it is simply wearable wealth. It is purchased by the gram. It is very different than buying a gold wedding band. Go to an Indian wedding necklace site and notice the gram and karat of each piece is spelled out right up front. These are purchased with value in mind.

[Magnum]

Ahh the short cover rally that's coming any minute!  Gee I haven't heard that one before.

GoldCore what were you saying when gold was $1600?  And have you ever recommended anything else?

[Cynicles]

Eventually one of these false PM profits is bound to be right...

[drendebe10]

Goldcore's SOS DD..... anyone with half a brain might suspect the CBs and TPTB are suppressing the price of gold while accumulating it hand over fist at the low price....  I can't imagine why....

[lunaticfringe]

I suppose you believe that all of the giant commercials and bullion banks taking net long positions at this level- while hedge funds are nakedly short- must mean the price is going down. Your observations are insightful and remarkable.

[Latitude25]

That short cover rally story is reserved for people who believe that markets aren't manipulated.

[Baa baa]

Well after all, they are called GOLDcore or did you miss that?

[Cynicles]

goldCON might be more suitable with all the hype they throow around

[qqqqtrader]

Gold's Artificial Lows - Price Surge Coming

what's their #?

_{(gonna mortgage the house to buy some).}