Gold Hit Bottom and What Will Drive it to $10,000 -
The macro-economic conditions that have supported Gold's bull run over the past decade have not changed; in fact, they've become progressively worse.
This is the calm before the storm, and last week's intra-day low of US$1,535 an ounce may well have been a bottom -
Gold is universally under-owned by everyone, including institutional portfolio and pension fund managers - Pension fund managers have a fiduciary responsibility to meet liabilities. They use asset allocation to achieve diversification in order to reduce risk, maximize performance and thus responsibly manage their funds. To ignore the best-performing asset class Gold Treasure chest - year after year could conceivably expose managers and trustees to legal liabilities -
Emerging market demand for gold continues to grow, with China asserting a dominant role. China's gold demand was up 10 percent year-over-year, despite a 22 percent increase in average prices. Inflation concerns and government attempts to cool off the housing market continue to drive Chinese gold demand and China will overtake India as the top global gold consumer. Chinese demand for goods, services and, yes, gold, will shape the global economic and investment environment for the balance of the 21st century.
Gold has been a store of value and wealth preservation for more than 3,000 years, while ALL fiat currencies have reverted to zero value after around 30 years. The clock is ticking on the US dollar fo fall off the cliff; it has been 41 years since President Richard Nixon abandoned the gold standard in 1971.
Due to extensive and increasing risks facing the global economy, Gold is poised to proceed in its bull market to a conceivable target of $10,000 an ounce - $10,000 Gold: The Inevitable Rise and Investor's Safe Haven -
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