The Gold Trade Expects A Higher, Not Lower Price Of Gold In 2014
SRSrocco: This is Guest Post by Gene Arensberg from the GotGoldReport site. I have followed Gene’s work for years. While I don’t believe in technical analysis as it pertains to candlestick charting or Elliot Wave Theory in a rigged market, Gene does excellent work charting the gold and silver traders positions.
According to Gene’s analysis, he believes the COT trading structure in the gold market is setting up for a higher price in 2014 and not a move towards $1,000 as some of the typical large banks have recently forecasted. This is precisely why I posted this article on my site.
I believe the gold floor price is in the $1,200 area, which is about the same break-even cost for the gold miners as a group. Once we include the continued high demand for the yellow metal, it seems highly unlikely the price will fall to the ridiculously low level of $1,000.
Of course, the LOW BALL FIGURES come from the very banks whose livelihood comes from stealing wealth from Americans via the Fraudulent Fiat Monetary Regime…. WHAT A SHOCKER.