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Kaye:  “Eric, as it relates to gold a lot of the strains in the system have been removed, but we have increased political tensions offsetting that.  Gold bumped up against the top of the trading band once again yesterday....


Continue reading the William Kaye interview below...




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“So we haven’t convincingly broken through that $1,350 area we discussed last time.  The gold market needs a convincing break above that key area to trigger the buy-stops.  We no longer have the persistent backwardation seen in gold for so many months and GOFO rates are normalizing.


So on the one hand you would think this technically overbought market would be primed for a bit of short-term weakness, but these aren’t normal times.  There is a pretty good bid now under the paper market which may very well be coming from new sources of demand.  People are concerned about the escalation of the conflict in Ukraine and the fact that Russia has seized Crimea.”


Eric King:  “If the gold market is able to regain upward momentum, what price level would gold need to break in order to see a quick rise?”


Kaye:  “We’ve seen a pretty staunch defense, and I’m certain the cartel is leading that defense, of this $1,350 area.  So gold will need to see a meaningful break above $1,350.  If we were to see $1,360 to $1,365 penetrated on the upside, that would open up the way for an attack on the next big number which is $1,400.


If the price of gold is able to make its way up to the $1,440 - $1,445 area and breach that, this would bring in an entirely new momentum-type buyer in the gold market.  So this would bring in a great deal of money on the buy side in gold.  This is still a very tricky and dangerous environment for people to trade gold, but for people who are on a longer-term accumulation program, the price of gold is still considerably undervalued at these price levels.”


Kaye added:  “Russia is not going to sit idly by and allow its interests to be compromised.  Russia is feeling encircled and they are not going to want the US and the EU to eventually deploy missiles in Ukraine.  So I think the odds of things getting much worse before peace prevails are, unfortunately, quite high.”


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IMPORTANT - KWN will be releasing interviews all day today.


The audio interviews with Egon von Greyerz, Dr. Paul Craig Roberts, Grant Williams, Andrew Maguire, Andrew Huszar, Michael Pento, Art Cashin, Rick Rule, David Stockman, John Mauldin, Eric Sprott 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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