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Leeb:  “You have to be impressed that gold is trading higher and the fact that it has broken through a couple of important resistance levels.  But what is interesting is that we have gold and the stock markets trading up together....


Continue reading the Stephen Leeb interview below...




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“A lot of people may think that’s bearish, but it’s not bearish.  All you have to do is go back to the 2002 to mid-2008 bull market in both stocks and gold.  That was a bull market in stocks, but it was a much bigger bull market in gold and commodities.


The longer-term commodity chart also looks like it is ready to turn higher once again.  This is also really good news for gold.  When commodities move higher, gold moves up faster than any other commodity.  So I think the action today in these markets is about the best I’ve seen in quite some time.


If you remember, commodities made their high in 2011, just before Europe started to turn down.  Well, Europe has had six consecutive quarters of negative growth in a row.  But Europe is starting to turn up a bit.  The German high court also essentially agreed to cede sovereignty and this opens the door for more quantitative easing in Europe.  If we see more QE in Europe, that would trigger a commodity rise and gold would definitely be in the leadership role.


What is interesting is that the Chinese want GlencoreXstrata to sell them a big copper deposit in Peru in order for the Chinese to approve a purchase GlencoreXstrata is trying to make.  Well, all of the sudden GlencoreXstrata doesn’t want to sell the Chinese that copper deposit because they see copper prices moving higher in the future.


GlencoreXstrata is looking at Chinese demand and that has them bullish on the price of copper.  As an example, the US Civil Engineers came out with a report saying they are trying to upgrade the US grid.  So the US plans to put in 17,000 miles of high-voltage wire.


Well, between 2011 and 2015, the Chinese are going to put in about 160,000 miles of high-voltage wire and continue to go from there.  That’s a lot of copper.  In fact, that’s a tremendous amount of copper.  So this is just one of the reasons for much higher commodity prices.  And that’s why GlencoreXstrata doesn’t want to sell the Chinese that copper deposit in Peru.


So, again, the decline in commodity prices took place with the decline in the European economy.  That may be reversing in a major way.  And remember, with the German high court ruling, there is no obstacle to prevent the European Central Bank from once again engaging in quantitative easing.  So you put all of these pieces together and it spells a new bull market in commodities, and it will be led by gold.”


Leeb added:  “King World News was the first network reporting on the massive demand for gold coming out of China back in 2010.  Now everyone is talking about it, including the mainstream media.  But with Chinese demand remaining strong, this may very well be the beginning of a move in gold to price levels above $2,000, and maybe even $2,500.”


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© 2014 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.


The audio interviews with John Mauldin, Eric Sprott, Bill Fleckenstein, Egon von Greyerz, Dr. Paul Craig Roberts, MEP Nigel Farage, James Dines, Gerald Celente, Andrew Maguire, David Stockman, Art Cashin and Dr. Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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