Bill Murphy of Lemetropole Cafe and GATA.org comments on gold's remarkable ascent above $2,000.
- Gold is holding firm around $2,000 for the longest time in recorded history.
Murphy comments on gold possibly rallying to $2500:
- Gold has been trying for years without success
- Gold has foreign central banks and Asians buying it, which has supported it, and it has held its own [compared to silver with less foreign interest protecting its price from the gold cartel.]
He continues:
What I call the "gold cartel" has done to the precious metals market is the most obscene thing in history. Do I think they're going to explode and go berserk? Absolutely.
- Is the investor love-affair with US equities subduing interest in the PMs sector?
- Is gold like Aesop's fabled tortoise - slowing crawling to victory?
- With the intrinsic value of gold around $1,600 and analysts calling for $3,000 gold, the risk-to-reward case for PMs is compelling.
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About the author
Chris Waltzek is host, executive producer, writer/editor, best-selling author, webmaster, sound engineer and computer guru at Goldseek.com Radio. He earned his bachelors degree in Business Economics and holds a dual MBA in Business Economics & Information Systems. Upon graduation he worked as the firm-wide Industry Analyst at one of the nations largest law firms, Jones, Day, Reavis, Pogue. Chris is currently a Ph.D. student in Management / Finance at NCU.
