GoldSeek Radio Nugget - Alasdair Macleod: Gold Market Run Might Be a False Start

Alasdair Macleod, head of research at Goldmoney, returns with key insights on the new gold record price of $2,140. Goldmoney is a publicly traded company on the Canadian exchange.

- Alasdair notes the Monday gold market run might be a false-start.

Macleod explains:

"It was an extraordinary thing because it, it only happened at about half past six on Sunday night, Eastern Time. In other words, when allegedly, it started trading in the Far East, but you know, it literally sort of got up to what, $2146 or something, [it] was meant to be highest trade. I would disregard that. I mean, I think maybe it's by testing $2100. I think that would make sense than the idea that it went much beyond that. I think the whole thing was very artificial and of course, as soon as you see something like that, and you may be bought [into] it...maybe bought futures, just literally 2 or 3 days ago, what do you do? You take a profit and you say, thank you very much." 

He explains further:

"...we've gone back into a situation where I think that if large funds, large interests, want to manipulate the price, they can do so, and sure enough today, we've got it drifting back towards the $2000 level."

- The 'powers that be' may be manipulating the gold ETF to contain the gold bull.
- Gold could find support around $1,950 to make the new run to new records.
- The gold bull market is underpinned by devaluing global currency values.
- Investors are advised to avoid credit and favor gold investments.
- The current US equities market resembles a financial bubble, i.e., the 2000 dot com craze.
- Is crude oil approaching a solid buying opportunity for long-term investors?
- Opinion on the Gaza Strip drama.
- Check out Macleod's Twitter profile here.
- Please note: the political opinions expressed by our guest do not necessarily reflect those of Goldseek.com or its employees.