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Alias Born | 11/14/2011 |
Thursday, December 27, 2012 4:48:25 PM
Hope Byron knows what he's talking about!
Byron sees several factors behind the slump... and none of them can last. "First, a lot of money is on the sidelines. A lot of people, funds and institutions have cashed out and stepped aside and are just waiting." They were waiting on the outcome of the election and now they're waiting for a "fiscal cliff" resolution.
"Meanwhile, all summer and into the fall, many sellers took even slight upward moves by junior resource players as an opportunity to take a gain off the table. The sellers neutered quite a few momentum efforts."
Again, it can't last: "I foresee good days for gold and well-run gold miners," says Byron. "There are the usual reasons. I foresee too much government spending and not enough revenue to pay for it. I foresee too much Federal Reserve 'quantitative easing' (QE). I foresee monetary inflation."
GLTA!
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