Wides: “I read Dan Norcicni’s latest interview on KWN and his views pointed me directly back to the piece I sent KWN on January 23rd of this year.  In that piece I shared my views on the coming mania in gold and silver.  But like all market trades and investments, timing can be very hard.  However, with current fundamentals and market positioning the time for the mania phase could be upon us.

Reviewing the charts one can see that the last setup and requirement for the mania phase to really begin is that many market participants need to be caught in the “bear trap,” clearly noted on the life cycle chart (above).  Evidence today, highlighted by Norcini, is overwhelming that there are historically unprecedented short positions in silver, and very large shorts in gold....

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“Sentiment to the metals is very negative with most mainstream research analysts recommending neutral to short positions in gold.  The setup could not be more perfect.  All it needs is the catalyst to get buyers in and the bears to start to covering shorts.

Have we just had the catalyst out of Japan?  My sense is world currencies have just had their Lehman moment, and that came from the BoJ announcement  on their accelerated QE program.  Let’s not forget that Japan is the 3rd largest economy in the world, and the BoJ has just eliminated the yen as a possible currency allocation option for global investors.

The BoJ has made their strategy so transparent that there is zero debate that you cannot own yen anymore.  This is where Cyprus enters the picture.  Cyprus created a crack in the desirability of asset allocation to the euro because a euro account in one country can now be quite different from a euro account in another.  Would you rather have German euros or Spanish euros?  When you think of it like that, the flaw in the Euro becomes very apparent.

Global investors currency choices are becoming less and less, and this can only be beneficial to gold and silver.

I noted on the gold and silver graph above that the start of the mania phase could begin around May 1st, 2013.  This date and the current build in fundamentals are aligning perfectly.  If this continues to unfold as I expect, the upside for gold and silver will be, as Norcini says, “100’s of percent higher.”

© 2013 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 This material may not be published, broadcast, rewritten, or redistributed.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

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