28.08.2013 - Gold price: Speed bump or reversal?
There’s been a dramatic spike in the pro-gold coverage coming from the non-mainstream financial press, and while I in now way claim to know any better than they the future price direction of gold, I do think it a tad premature to be proclaiming decisively that gold has reversed course and will now head toward the $2,000 mark. JP Morgan recently jumped on the “buy gold” bandwagon pointing to fundamentals in the end user segment driven by India’s annual wedding season demand boost. Hank Paulson’s announcement regarding his funds’ reduction in gold exchange traded holdings by half wasn’t enough to dampen the enthusiasm engendered by the JP Morgan tout and the ensuing message amplification by the plethora of bandwagoneers...............................................Full Article: Source
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