Today a legendary short seller told King World News that we are now in the early stages of a new gold bull market and we may see a shocking surprise.

Eric King:  “Bill, I know you and I were concerned because we had this interview set up today and we wanted to make sure gold wasn’t getting hit.  Gold started off taking a tumble on the Non-Farm Payroll Report but it’s back in the green.  So it doesn’t seem to matter — gold is on the move and it wants to go higher.”

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Bill Fleckenstein:  “What most of your readers and listeners are probably not aware of is that over the last group of years in the gold bear market, whenever you would arrange to have an interview with me it was almost it guaranteed that gold would get splattered on that day. (Laughter)…

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Bill Fleckenstein continues:  “What we’re talking about is little bit of an inside baseball joke between the two of us.  And today being a Non-Farm Payroll day and a Friday, which for whatever perverse reason we’ve seen gold get splattered a bunch, it’s nice to see that not occur.  

King World News - Please Take A Look At This Key Chart In The Gold SectorBig Changes As Gold Bull Market Emerges
But in all seriousness, we are in the early stages of a new (gold) bull market.  Or said differently, a cyclical bull market within the secular one that began in 2001 — however you want to think about it.  And what’s been remarkable so far is that unless you’ve been paying close attention and suffering with this thing (gold) for some time, you might not have noticed the change in behavior and the ease with which gold blew through some numbers that in the past would have bothered it, and the fact that the Commitment of Traders Report hasn’t mattered much.

To me the most important development has been the continual accumulation of ounces by the ETFs.  And one thing I told myself several years ago when gold first broke was, ‘Well, gold probably can’t go up until the ETF takes in ounces regularly.  That idea was a good one.  So the most encouraging thing that I’ve seen has been the intake of ounces.

King World News - Legendary Short Seller - We're Now In The Early Stages Of A New Gold Bull Market And We May See A Shocking SurpriseAnd We May See A Shocking Surprise
And today we got the humorous headline that the BlackRock’s ETF can’t accumulate any more ounces because of the fact that they don’t have enough shares registered.  So the demand has caused them to suspend the purchase of new ounces.  That’s a share registration issue and not a supply issue, but one day we may see an inability to get supply given how much of the metal has moved to China in the last few years while we were having our bear market.”
…To continue listening to one of Bill Fleckenstein’s best audio interviews ever CLICK HERE OR ON THE IMAGE BELOW.

***ALSO JUST RELEASED:  Gold And Silver Surging – Shorts Worry As Long Awaited Turn Picks Up Momentum CLICK HERE.

KWN Fleckenstein mp3 3:5:2016

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