IF GOLD’S LONG TERM TREND WAS DOWN, ASIANS WOULD NOT BE LINED UP TO BUY!
by Stewart Thomson
MAY 15, 2013
India’s citizens buy gold, any way they can get it, to protect themselves against government stupidity and theft. Western bank economist price targets of $1100- $1300 mean absolutely nothing to these gold market champions. If the average Indian is not afraid of lower gold prices, should you be afraid? The answer is clearly… no! Every “card carrying” member of the gold community wants to see higher gold prices, and it will happen, but patience is required. It’s quite sad that hundreds of millions of Asians are lined up in the streets to buy physical gold, while many Western gold analysts are doing nothing other than pasting “long term trend is down” annotations on every gold chart they can find.
If the long term trend for gold was down, Asians would not be lined up in the street to buy it. Gold is not a dollar-bug’s whipping boy. It’s the greatest investment asset in the history of the world, and the only one that should never be sold at a loss!