Andy Hoffman and Bill Holter have been hitting it out of the park lately with their original analysis. Today, Bill Holter’s article is even better than usual. It is definitely a don’t miss article, titled “I Had No Idea.”
On Monday, Larry Edelson posted an article that is very, very bullish. He started it off by writing:
I have every reason to believe gold will easily hit $5,000, or higher, by mid-2016.
I believe we are now rapidly approaching …
(1.) A major low in gold.
(2.) That time and place where gold will lift off in the second major leg up in its long-term bull market, one that will ultimately see gold move to at least $5,000 an ounce.”
–Money and Markets, October 21, 2013
Because as good as my models are, as accurately as they have been at calling almost every twist and turn in the gold market since I started trading the yellow metal back in 1978 … no one, myself included, can accurately predict the exact price and timing for such a major low. My signal could come at any time.
Edelson still insists that gold will have one more downdraft, most likely below $1,200. He has waffled back and forth, predicting the low would be hit by the first week in October, than he moved the date back to the first of the year and now states no one can accurately predict the exact price and timing. On that score, he is absolutely correct. To me it appears gold hit its low recently at $1,250. All of the forces that should launch gold’s next phase in its bull market are aligned.
China is buying all the physical gold that they can source. It’s only the paper market (Comex) that is soft. You would think that the hedge funds would take a strong long position since QE to Infinity is still in play. There just is no way that gold is trading freely. It is not logical and the traders can’t be that stupid, can they?
After you finish reading Bill Holter and Andy Hoffman’s section, check out the comments from Jim Rickards (Jim Willie), Andy Maguire (King World News) and Jim Sinclair at the end of today’s newsletter.
We find gold’s price to be illogical and counter-intuitive, in light of our inept spend-us-into-oblivion government, and “we will solve everything by printing more money” Federal Reserve. We all strive to present you with information that explains why gold isn’t (yet) selling for a multiple of the current price, and who is behind the manipulation. This will not end well, unless your dollar positions are minimal and your precious metals positions are fully covered. With that in mind, I made two more purchases for myself today. This “hold the price down” manipulation cannot go on much longer and I would feel foolish to miss this opportunity to join in with the Chinese and Indians and buy gold and silver at a huge discount. Also, as Sinclair points out, our bank deposits and IRAs are at risk. I definitely am out of the system.