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Caesar Bryan continues:
“What that says is that there is very strong underlying demand for gold because the gold price hasn’t weakened in the face of these upward moves over the last month or so. When you look at a chart you could claim that it’s somewhat overbought because we’ve had the move from the $1,600 area to the high $1,700s without much of a pause.
But the long-term opportunity is very much on the long side of the market. Gold is going to go higher....
Continue reading the Caesar Bryan interview below...
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“The central banks around the world are printing, and this week we had news that the Japanese Central Bank has joined in by embarking on further asset buying program.
Next week the focus will shift back to Europe because Spain will be seeking a bailout. Meanwhile, the ECB has said they would buy bonds of distressed euro members, but those countries must seek a bailout first. So their is conditionality.
Since that announcement there has been a quiet period, but I think that quiet period is coming to an end. So there is going to be some tension as news of the conditionality and the bailout gets circulated. The stage is now set.
With that as the backdrop, I expect to see new highs on gold before year end. The enemy of the gold investor is time. You need to have your position and stick with it. Just looking at gold relative to the supply of money, gold may advance to $2,500 to $3,000 in the first few months of next year.
In reality, people haven’t even begun to accumulate gold globally. So to me $2,000 is nothing. But will there be pullbacks? Yes, of course.”
Bryan had this to say regarding silver: “Silver is the leveraged play to gold. The high from the middle of last year was just under $50, and that will easily be eclipsed as gold breaks to new highs, easily.”
Bryan also added: “Encouragingly, the gold stocks have actually started to outperform the metal and this is a very good sign. But I think this is just the start of that outperformance.”
© 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 This material may not be published, broadcast, rewritten, or redistributed.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
Gold To Advance Another $700 - $1,200 Within Months
Today 25 year veteran Caesar Bryan surprised King World News when he talked about gold advancing $700 to $1,200 in a matter of months. Bryan stated, “Just looking at gold relative to the supply of money, gold may advance to $2,500 to $3,000 in the first few months of next year.” Bryan, from Gabelli & Company, also discussed the nature of the current gold advance, silver, and what to expect going forward.
Here is what Caesar had to say: “Since we’ve had the news of further easing in the US and Europe, gold has moved up in a sort of ‘step’ fashion. It’s quiet for a few days, and then another move higher takes place. Now we seem to be set for another ‘step’ move higher.”
© 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.
September 21, 2012
