Jeff Christian opened this year’s Metals and Mining Investment conference in New York with an attempt to dispel some of what he sees as myths about gold perpetuated by the gold bulls.
by Lawrence Williams, MineWeb.com
In the opening keynote to the New York Metals and Mining Investment Conference, gold analyst and GATA bête noir, Jeff Christian, poured some cold water on to the largely gold-bullish audience. Christian is the managing partner of CPM Group – a well respected firm of metals analysts with a special interest in precious metals – he is also known as being much more sceptical on the idea that gold is set to continue its strong rise of the past 12 years into the immediate future, and many would have reckoned him to be bearish on gold right throughout its upward path too. If one holds one’s position long enough you are probably going to be right at some point in time – a position that would also have applied to the gold bulls for many years prior to the 2001 start of the bull market..
His talk was entitled ‘Fact and Fiction in the gold market’ and he set out to demolish what he sees as a number of myths presented by the gold bulls as to why gold will continue to rise – and pouring particular scorn on those predicting $10,000 gold. He doesn’t necessarily seem to believe that gold is set for a major downturn, but that there is nothing out there to support a strongly held premise by many observers that the recent downturn in the gold price is only a blip or correction in a continuing upwards path for the yellow metal.
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