Matterhorn Asset Management Sets Three Gold Price Targets: $6,000 – $7,000 – $10,000
by Tyler Durden
From Egon von Greyerz of Matterhorn Asset Management
GOLD ENTERING A VIRTUOUS CIRCLE
Fundamental and technical factors for gold are now in total harmony and gold is entering a virtuous circle that will drive the price up at its fastest pace since this bull market started in 1999.
•It is a fact that gold in US dollars (and many other currencies) has gone up 400% in eleven years or 16% per annum annualised.
•It is a fact that the US dollar has declined 80% in value against gold since 1999.
•It is a fact that the dollar and most other currencies have gone down 98-99% against gold since 1913 when the Federal Reserve Bank of New York was created.
•It is also a fact that the Dow Jones (and many world stock markets) has declined over 80% against gold since 1999.
•It is a fact that gold has made a new all time monthly closing high in dollars in August 2010.