by David Schectman, MilesFranklin.com:
This morning, the gold market duplicated its strong move up on Wednesday in the Thursday pre-New York hours. Investors finally come to their senses? I doubt it. Probably just JPMorgan letting up a bit. Above $1,400 is where we want to close by the end of the week. $1,478 will solidify the price even more.
“If the gold and silver market, are rigged and manipulated (which they are), why should I bother owning gold or silver?” Some of our readers ask that question. My answer is that the market has been suppressed and manipulated all the way up since the beginning of the bull market in 2001, with gold at $252 and silver around $4.50. Without the manipulation, you would most likely be paying multiples of what it costs you now, to acquire this timeless, real “wealth.” Would you rather pay $3,500 an ounce – or $1,400 for your gold? Gold will find its “real” supply/demand value at some point (in the next few years), so why not take advantage of a price structure that cannot last.
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