Raving Bull
Posted by Investment Rarities on September 20th 2011 in China, Federal Reserve, Gold, India, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!
Explaining his “Unrestrained Bullishness for Gold and Silver,” the Midas Letter‘s James West tells The Gold Report that “first and foremost, I love silver. I agree with Eric Sprott in his assessment that silver is the investment of the next decade. At some point, the daily interference of government-sponsored market manipulation in the futures and options markets of commodities, and most recently stock index futures, must come to an end. As it does, silver will finally be free to reflect the pent-up investment demand that the compromised futures marketplace masks. Silver should explode to the upside, and I have no hesitation in predicting a near term 30:1 price ration in terms of number of ounces of silver it takes to buy an ounce of gold. That implies a silver price of $60/ounce (oz.) if gold is trading at $1,800/oz. And I think we’ll see that at some point in 2012.”
About gold, he says that “the demand is steady and relentless. Large capital positions are realizing that the very best wealth preservation strategy lies in holding physical bullion. People who say gold doesn’t return an investment profit are incredibly myopic. Its just rubbish to say something like that about a commodity that, if invested in 2001, will have returned 500% over the last decade.”
Related Links:
Reuters: Gold rebounds, up most in over a week on Fed hopes
Dow Jones/MarketWatch: Comex gold rebounds above $1,800, silver tops $40
Kitco: Thomson Reuters GFMS’ Newman: Silver may move toward $50 yet in 2011
Silver Investing News: Silver’s image and it’s potential effects
KWN: Louise Yamada – Still bullish gold & silver, not stocks
Bloomberg: Gold prices may top $2,000 this year on ‘confidence crisis’
GoldSeek: LBMA campaigns for gold to be Tier 1 asset for banks under Basel III
Reuters: WGC: Chinese gold demand may rise 10% this year
Kitco: WGC’s Toussaint: China, India account for more than half of global gold demand
Forbes: China next to get gold dispensing ATM machines
Bloomberg: Fed may extend duration of Treasuries with ‘Operation Twist,’ survey shows
Minyanville: What future US monetary policy means for gold prices
Beacon Research: Here’s how the Fed could shock the gold price
Zero Hedge: Bernanke’s choice has been made for him
Bill Bonner: When economic growth is a thing of the past
