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Ben Davies continues:


“Last time we spoke I said the market would chop wood so to speak and that’s what has actually happened is just a chop sideways.  We felt that the market was going to break out over the bank holiday on Monday.  You often have turning points over these weekends and it is either a resumption or it’s a trend change.  But because we had come from a structurally oversold element in the market, we felt there was going to be a resumption (to the upside).


There were a number of reasons, the sentiment was still very attractive and positioning was light....


Continue reading the Ben Davies interview below...  




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“There are flows into physical that some participants are not seeing.  But we are hearing about (it and it) made us wary that the shorts were getting into a trapped position.


With oil prices starting to resume to the upside, there were a lot of geopolitical pressures that could underpin the (gold) market and send it higher.  Everyone is looking for a reason why gold needs to go higher.  The fact remains not enough people own the physical.


A new player came into the market and that caught the market substantially offside.  It started on Monday.  The market was quiet but a lot of option activity was taking place in the market and then again on Tuesday in the physical (market).  


A bigger player (and a new player) came into the market and it’s a central bank.  The fact is people don’t get what’s happening and that tells me the market is going higher.”


KWN readers will not want to miss this interview because Davies gives specific price targets for gold.  He has been remarkably accurate and these price targets for gold and the corresponding time frames are directly in front of us.  The KWN audio interview with Ben will be available shortly and you can listen to it by CLICKING HERE. 


© 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 This material may not be published, broadcast, rewritten, or redistributed.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.


Eric King

KingWorldNews.com

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