The Tremendous War In Gold Continues Near The $1,800 Level
October 2, 2012
Today acclaimed money manager Stephen Leeb spoke with King World News about the ongoing war in the gold market near the $1,800 level. Leeb also spoke about how it will end. Here is what Leeb had to say: “There really has been a battle just below the $1,800 level on gold. It’s fierce, and it’s ongoing. Some people will say there is some government or bank selling to keep gold in check. Others will say it’s just normal profit-taking as you get toward a round number.”
Stephen Leeb continues:
“It really doesn’t matter. Gold is going to go through $1,800 and eventually much higher. $1,800 is not a stopping point for gold. Could it dip again below $1,750? Of course. But look at the dynamics for gold and you will see that $1,800 is nothing. It’s simply a platform for higher prices.
The question is, once gold gets above $1,800, is it going to $1,850 right away, or is it going to go to $2,500?….