No, the bull market in gold is not over,” insists our gold adviser Ed Bugos, in English. “The best is yet to come.”
“So what would it take to see the same love in gold that we saw in tech stocks in 1999, the housing market in 2003-05 or oil recently? The answer is simple: more of the same.
“You will see it in gold when all the usual anti-gold arguments fall flat on their faces. When people no longer believe that the ‘modern-day’ central bank has a handle on inflation and interest rates; that inflation is ‘caused’ by oil, growth or a shortage of goods; or that prices will one day come down. You will see it when people realize that the bubble in commodities is really a destruction of confidence in the medium of exchange.”
Aside from the reason above, Ed sent us another of his top 10 lists. Enjoy:
Top 10 Reasons to End Cheap Gold
Cost inflation slowing down development pipeline, hence future production growth
Political risks in frontier countries also shrinking available supplies
Faltering global economy persuading central bankers to abandon tightening plans
Soaring government deficits
Saber rattling between Iran and Israel and other geopolitical tensions heating up
Another GLD ETF just listed on Hong Kong exchange
Some countries already experiencing crackup and heightened gold demand
Shrinking official gold supply
Seasonal trends turning bullish again into the new year
Large producer Anglo has yet to cover all its hedges.
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