John Hathaway – China To Radically Reprice Gold Higher In 2017 As Demise Of The COMEX & LBMA Accelerates

Friday, March 24, 2017
By Paul Martin
March 23, 2017

As we near the end of the first quarter of trading in 2017, here is a reminder from one of the greats in the business, John Hathaway, which says China is preparing to radically reprice gold higher as the demise of the COMEX & LBMA accelerates.

KWN wanted its global readers to review this masterpiece from Hathaway before we kickoff trading in the second quarter of 2017:

By John Hathaway, Tocqueville Gold Fund
(King World News) – Gold rose 8.5% for the year while gold-mining stocks (XAU – Philadelphia Gold and Silver Index stocks) rose 75%. On an annual basis, results were highly satisfactory. However, there was considerable drama beneath the surface that left precious metals investors in a state of anxiety by year-end. Precious metals and mining shares rose sharply through August, and then spent the rest of the year giving back much of the first-half gains. The second half downtrend accelerated into early December, following the unexpected victory by Trump and a hawkish statement after the December Federal Open Market Committee (FOMC) meeting…

The Next Big Change In The Gold Price Will Be Substantially Higher
The question of the hour is whether the 2016 gains were merely a countertrend rally following a four-and-a-half-year decline from all-time highs in 2011, or the beginning of a new leg in the secular bull market that began in 1999, during which gold rose from less than $300/oz. to $1900 in August 2011. We judge the weight of current sentiment, mainstream media opinion, and technical analysis to be extremely bearish, comparable to year-end 2015 just prior to the dramatic gains that followed. We believe that, based on prevailing negativity, the next big change in the gold price will be substantially higher. If so, the 2016 second-half correction will have established a durable higher low from the advance that began at year-end 2015, and would be the precursor to the continuation of the secular advance that began in 2000.

The Rest…HERE

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