Gold and Silver Miners and the U.S Markets. Message Board

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Gold/Mining/Energy : Gold and Silver Miners and the U.S Markets.

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From: The1Stockman	3/24/2014 3:07:09 PM
	of 1954

Don't write off gold just yet: Jim Rickards By The Daily Ticker 6 hours ago Video: finance.yahoo.com Jim Rickards, portfolio manager at West Shore Funds and author of the forthcoming book, Death of Money, explains the dynamic behind the price moves (disclosure: West Shore Funds does invest in gold). "One of the reasons gold did so poorly in 2013 was because 500 tons were taken from [the gold ETF] GLD warehouse by authorized dealers and dumped on the market," he tells us in the video above. Rickards says most of that gold went to China, but China is storing it so it is "not going to see the light of day for 300 years." As a result, Rickards says, the floating supply of gold declined, and less supply and more demand created a "good technical setup" for higher prices. Longer-term Rickards is forecasting gold prices at $7,000 to $9,000 an ounce in the next three to five years. We asked how it could possibly get there, given that gold's all-time-high was just $1920 an ounce and turmoil in Ukraine produced only a short-lived rally.

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