From usagold:
sector ( 2/7/03; 10:08:36MT - usagold.com msg#: 97032 )
The US economy stares into an abyss no matter which way it's cut. Greenspan is skydiving without a parachute, imagining that flapping his arms will soften the landing.
The real issue here is when will the gold shares discover what is happening in the gold market? When will the fund managers realize that there isn’t going to be a pull-back and cut loose their money? They can be left at the dock.
The price of gold will breach $630 by the end of the year because of the existence of a G-10 plan to put it there...on a freaking straight line.
No derivatives explosion, no Washington Agreement spikes…just a relentless, merciless, unstoppable, gold-short-slaughtering, grind higher...to a price where non-central bank gold emerges to quell the decades-old hunger of world gold lovers. Throw a dart between $1,000 and $3,000 per ounce after Jan 2004.
Watch the dollar [Major Currency Dollar Index, H.10 Fed Report] sink to 65 by 2004. It’s 95 today.
Gold is not driven upwards by a few rich, fat Asians smoking expensive Cuban cigars, but by the ABSENCE of official sector selling which is the only meaning source of market selling today. They have capitulated. This is their way of retreating. Salvaging some of the wounded bullion banks with their hapless, mumbling CEOs and their fatally wounded, acolyte miners.
They have bled enough central bank gold in this war. |
