Got Gold Chalky Soetero?
Let’s see, trillion dollar deficits per year as far as the eye can see? Check.
Oil prices rising driving inflation? Check.
Weimar Ben printing money like no tomorrow? Check.
Along with the Fed the BOJ and ECB printing money as well? Check.
You and I both know the table is set for gold to spiral higher rather quickly in the near future. The political gold cabal has literally thrown the “kitchen sink” at the market and all they got the market down is about 8% and about 13% from the all time high last September?
“That’s it? That’s all you got to show for the market manipulation of JPM & HSBC; the margin shenanigans of the CME; the stealth drops in the wee hours?
Seasonally speaking, March is usually a weak month for gold, with the lows generally seen mid-month. If that holds again this year, then the lows around 1632 will hold and from here we will base and go higher.
As I have stated in earlier posts, my only fear for gold comes from going lower on the year [1562] for the first time in 11 years. Selling could materialize rather quickly from the GLD and all the moving average lemmings who would sell. If that happens, who knows where it would stabilize.
Having said that though, emerging market Central Banks are strong buyers of physical gold at these levels, and with all the rumored selling of Weimar Ben and the gold cartel, how much more can they throw at the market before they are forced to capitulate and buy much, much higher?
The world is printing money at a record clip that would make the old rulers of Zimbabwe blush. It’s only a matter of time before the dam truly breaks and prices race higher. A close over 1802 / oz. and the gig is up. Sometime in 2Q 2012 and I think this gets taken out and from there the fun can truly start on the upside.
Be patient and let Chalky’s policies make you rich.
Have a good day everyone.
-vegas
I would say 1562 is a long way down, but then again, a $100 bull candle is hardly out the question anymore, is it?
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