Richard Russell – Gold Smash & Danger For A Major Market
December 2, 2013
With continued chaos around the world and uncertainty in global markets, today KWN is publishing a powerful piece that was written by a 60-year market veteran. The Godfather of newsletter writers, Richard Russell, discussed the continued smash in gold, as well as the short selling of gold by the bears. Russell went on to mention the action stocks, the US dollar, danger for a major market, and he included 3 fantastic charts.
Richard Russell: “The inflationists and gold-haters have been able to drive gold down to a new low. The P&F chart of gold below looks scary, but as I see it, what we are looking at is an ever-larger and growing base for gold. The base has been forming ever since July of last year. It’s been practically begging speculators to short gold. The more shorts, the better. I also think there’s been a lot of tax-loss selling by fund managers in gold and particularly the gold miners.