I think most people don't really understand what is going on in the gold market. There is a reason why the cartel manipulation in gold broke right here when they were unable to get gold below $2000.
There's a reason why we've got this violent surge higher...and then instead of getting a corrective move, gold just traded sideways and has broken out again. Now, there's probably going to be some kind of correction in gold over the next several weeks...
But the driver of this move, this bull market in gold, is different than the driver here. This driver in the $2000s was due to inflation. And when the housing market collapsed, and the Fed printed billions and billions of dollars to try and soften that blow, it ignited inflation. Oil went to $100, almost $150 a barrel and gold made this huge move from $250 to almost $2000. Inflation is not what is driving this breakout in gold, this is fear of the government, that is driving this breakout.
Gary Savage is a 57-year-old retired entrepreneur living in Las Vegas. He has been investing in stocks and commodities for 15+ years. He is a self-made multi-millionaire and attributes his financial success to savvy investments made in owning/selling several businesses, real estate, and, more recently, the stock market. He is also an Olympic weightlifting champion, and world record holder. Gary’s stock market investment philosophy and success owes to an unusually disciplined and keen understanding of market cycles combined with cutting edge sentiment data which allows him to anticipate and articulate how larger trends are likely to unfold. His analysis is almost always in strong contrast to what the public is thinking – and, provocatively, several steps ahead of the crowd. Gary’s renown as a recognized trading/investment expert in the areas of precious metals, stock market, oil and currency markets is demonstrated by his numerous internationally published articles in these market areas. Gary publishes the Smart Money Tracker, a market newsletter available online by subscription only, and also the SMT free blog.
