John Hathaway – Gold is Making a Very Important Bottom
KingWorldNews.comMarch 20, 2012
Today four decade veteran John Hathaway, told King World News that the gold market is making a very important bottom here. The prolific manager of the Tocqueville Gold Fund also said there is extraordinary value in the mining shares. Here are the critical observations by one of the most extraordinary 5-star rated Morningstar fund managers: “To me we are at the end of the correction that started last August when gold briefly peaked over $1,900, and the shares have really taken the brunt of it. Gold is down from $1,900 to $1,640, but the XAU is back to where it was in December.”
John Hathaway continues:
“We are making a very important bottom here. This is rock bottom sentiment and a buying opportunity. It’s tough to sell when they (mining shares) are making their highs and it’s tough to buy when they are making their lows. I’m astonished (at the mining shares), but here they are and they have great values.
Gold has made a higher low in my opinion. It (gold) has not revisited the levels of last December and I think its setting up for a big move here. That February 29th massacre, and who knows exactly what was behind it, but it was Bernanke saying no more quantitative easing….