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Jackson Hole symposium beckons

from, Gold Money:

“Your window to buy gold below $1,700 is closing” according to Casey Research’s Jeff Clark. As seen from the informative chart below, if previous correction and consolidation phases of this bull cycle are any indicator, Clark argues that it is not unreasonably to expect the gold price to have breached its September 5, 2011 record of $1,895/oz (London PM Fix) by Christmas.

The fact that we’re just one month from the fourth quarter – a period in which Indian gold buying increases, owing to it being the country’s wedding season – adds further weight to the idea that we’ll be looking at the $1,600s in the rear-view mirror within the coming weeks or even days.

As Clark points out, September is usually gold’s strongest month of the year. This may not be unrelated to the disproportionately large number of banking crises that tend to occur in that month. Last year was unusual in that we had such a strong showing from gold during July and August, which are usually quiet months for the gold market. So revision to the mean is likely.

Read More @ GoldMoney.com

3 comments to Jackson Hole symposium beckons

  • stuart

    well, the damn metals are dropping again today. Crazy. Really does chaffe my bum cheeks. Why cant they get the hell out of these markets and stop stealing from people?

  • john

    I am personally sick of hearing all the bullshit about the metals really taking off,as far as I can see TPTB can keep the prices down for years,what’s going to stop them.They have controlled prices for years and continue to do so,all these wise men say,TPTB are nearing the end and they will be in trouble shortly,don’t believe it for a minute.They don’t actually have to have any metal,as long as everyone thinks they do,so they can play the game forever.Please tell me I am wrong.

    • Tim

      They can’t suppress the prices “forever.” Eventually the cartel will be overcome by overwhelming demand. When that will happen is anyone’s guess.

      I feel your pain. There are no free markets in this evil world.

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