Gold’s Artificial Lows – Price Surge Coming
DAILY PRICES
Today’s Gold prices were USD 1,094.80, EUR 998.50 & GBP 707.74 per ounce.
Friday’s Gold prices were USD 1,091.35, EUR 998.99 & GBP 703.01 per ounce.
[LBMA AM prices]
Last week, gold and silver were mixed with gold marginally lower for the week – down 0.28% to $1,092.10 and silver up 0.4% to $14.77 per ounce.
Gold in USD – 1 Year
This morning, gold is 0.1% higher to $1,096 per ounce. Silver is up 0.74% to $15.02 per ounce. Platinum and palladium are 0.74% and 0.5% higher to $973 and $607 per ounce respectively.
Gold’s Artificial Lows – Price Surge Coming
- With gold languishing near deep secular lows, its technicals look hopelessly broken
- Sentiment is off-the-charts bearish, with traders universally convinced gold is doomed to spiral lower indefinitely
- But gold’s weakness this year is very deceiving, as it wasn’t the product of global fundamental supply-and-demand forces
- Extreme record shorting by American futures speculators spawned these artificial lows
- Gold’s imminent short-covering rally should be the largest ever, coming from record extremes
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