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GoldSeek Radio Nugget - Bill Murphy on the Suppression of the Gold Price


Bill Murphy of Lemetropole Cafe and 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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