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Gold looks like it is building up to breaking above the key $1400 level to enter a major growth phase that could dwarf anything seen hitherto, which we can expect to synchronize with the dollar accelerating away to the downside and lead to Precious Metals stocks doing a “moonshot” which won’t be hard considering how depressed and undervalued most of them still are, and how lean and efficient most mining companies are now as a result of having had to battle through hard times for years. If “The Cartel” try to stop gold going up in this environment by unloading an avalanche of naked shorts, we can expect the market in physical gold to disassociate itself from the paper market to the extent that the latter is bypassed and rendered irrelevant – this will probably happen as a result of more and more buyers demanding physical and no longer accepting paper certificates. When this happens gold could go limit up for days on end.
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