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Caesar Bryan continues:
“This is something these central banks have been trying to remedy through continued purchases of gold, and they will continue to do that. Many of the central banks of the West have significant holdings of gold, at least on paper, and they are the ones who are debasing their currencies.
One catalyst for gold could be what is happening in Europe. Today the IMF said that European banks have to sell assets, possibly as much as $4.5 trillion worth....
Continue reading the Caesar Bryan interview below...
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“So they are in deleveraging mode and they’ve got to shed assets in order to raise equity. The bottom line is the IMF has raised the total number of assets that may need to be sold from the original April figure. The European crisis is largely a banking crisis, and the overall scale of the problem is enormous.
But problems in Europe could, once again, reignite a fire under the gold market. We may see additional easing from the Bank of Japan and also the Federal Reserve. So far, nothing the Federal Reserve has done has had any real impact on the economy, other than to create inflation.
Also, lurking in the background is this whole issue in the Middle-East. Conflict surrounding Iran and Israel may send the price of oil significantly higher, and this spike would also be accompanied by a big move in the gold market as well.
In the end, the wind is at the back of the bulls in the gold market. There will be setbacks from time to time, but the overall trend remains to the upside, and we should expect to see a major breakout, it’s just a question of time.”
Bryan also added: “The mining shares look excellent from a valuation standpoint. So cash flows should be in good shape going forward and there are a number of acquisitions that will take place in the future. We have seen a couple of takeovers in the last week.
The bottom line is that the mining shares are still historically undervalued, and that undervaluation should continue to underpin that market. When gold finally breaks through $1,800, we should see a significant outperformance on the part of the mining shares in this next advance.”
© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
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Eric King
Europe & The Major Breakout For Gold Is Still In Front Of Us
Today 25 year veteran Caesar Bryan told King World News that “... problems in Europe could, once again, reignite a fire under the gold market.” Bryan, from Gabelli & Company, also said the major breakout for gold is still in front of us and investors should be prepared for the next advance.
Here is what Caesar had to say: “Gold is still in a holding pattern, but investors should use these quiet times to accumulate physical gold. Gold is the ultimate way for investors to maintain their purchasing power. People have to remember that many of the surplus countries, especially in the Far East, have a very low weighting of gold relative to their fiat currency holdings.”
© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
October 10, 2012
