Celente: “Tidal Wave” of Investors Coming to Gold
by Brittany Stepniak
Monday, June 18th, 2012
Renowned financial trends forecaster Gerald Celente grimly states that each new day presents a new catastrophe. Everyday, politicians and central bankers say the crisis must me mended as the entire financial system lies on the verge of collapse.
With each passing day, an increased number of smart investors opt for gold because of the wild volatility elsewhere. The eurozone crisis has sparked a coming tidal wave of investors expected to enter the gold markets in the coming weeks and months.
Greece may leave the eurozone, Spain just gained $125 from the “Spailout”, and the trillions of dollars of debt remain…it’s a bleak outlook for sure.
China is preparing for a Greece euro exit and just lowered their interest rates for the first time since the financial meltdown of 2008. It is also about to replace India as the largest gold market with demand expected to increase by 30% in 2012. Individuals and nations alike are doing the best they can to be as financially savvy as possible in these deeply uncertain times.
Weak economic data plagues headlines across the globe; in Europe and the U.S. especially, but now it’s everyone’s problem. As the entire world retreats from various markets in fear, gold offers the only glimmer of hope these days. Investors are really catching on to this gold trend amidst all the national and international fiscal disasters.
Do you remember in the winter edition of the Trends Journal, we warned of bank runs and bank holidays. We thought they were going to happen first in the US. Our timing was a little off with the country, but we nailed it. There are bank runs in Greece, Spain, Italy, and they are making it more and more difficult to get your money out. If I was a European, why would I have my money in the banks?
I’ve always made it very clear, I only put my money in gold and silver. Here is my take on gold, the next big breakout point is $1,655. After that it’s $1,675, and then $1,700. For me to see gold strong again, it has to break the $1,850 mark.