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Gold at $1908 and just think the majority of the public has none


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#1 nimblebear

nimblebear

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Posted 22 August 2011 - 07:59 PM

So we have central banks buying it for the first time in years, we have India and Chinese citizens buying it. We have very large ETF's buying it. But the vast majority of US investors or even non-investors has very little of it. In fact most folks have been offloading what little they have in the form of jewelry to all these scam artist firms offering to buy it for 'top dollar."

Needless to say, the gold miners have not at all kept up with the price, and juniors ??? well they are ready to do a massive moonshot higher.

I still have my coins, and its still in the cards for selling them very soon. When gold starts its runaway, and does $100 daily spikes, then it might be time to say we are in panic selling. Until then, its hard to say we are near a "top" and what that "top" price may be.

http://www.bloomberg...parabolic-.html

I really do like the fact that gold and gold mining stocks have done rather well versus general equities. This was an event long in coming that I positioned for well in advance. It took one heck of a lot of patience. I think the perception is that gold stocks and miners will get wiped out in this next massive general equity decline. Personally, I dont think they are getting hit too hard, and will fare even better as the decline plays out. This is gonna take some time though, and lots more patience.
OTIS.