Currency Wars Continue To Rage & This Is Positive For Gold
October 25, 2012
Today 25-year veteran Caesar Bryan told King World News that “Currencies wars are continuing to rage, and the reality is this is a very positive environment for the gold price.” Bryan, from Gabelli & Company, also said, “…the bullish case for gold has never been stronger.”
Here is what Caesar had to say: “When we last spoke, Eric, I outlined the fundamental bullish case for gold. I believe the gold price is going to go significantly higher over the next six months. The gold market had reached a point of being overbought when it was up at the $1,800 level.”
Caesar Bryan continues:
Gold had spiked from the mid-$1,500 area to $1,800, so it had gotten a little ahead of itself. Well, sure enough gold has taken a hit, and broken through its 50-day moving average which was at $1,723. Whether gold needs to go down to its 200-day moving average near $1,660 remains to be seen. I hope not.
But from a longer-term standpoint, the bullish case for gold has never been stronger….