Bullion banks have just taken losses on scarce physical gold, plus some hedge funds are also being caught in the short squeeze along with the bullion banks.
With many investors nervous about the volatility in the gold and silver markets, it’s time to relax and have a burger because the bull market has a long way to go. As one professional just noted, “It is difficult for me to believe that a three week rally is all we get from a 5+ year base.”
The nightmare for bullion banks continues as silver hit $30 in overseas trading and gold surged toward $2,100. The metals subsequently retreated from the highs and have turned negative in volatile trading.
On the heels of another all-time high in gold and silver breaking above $28, look at who just predicted $4,000-$8,000 gold and $100+ silver.
Below is a small portion of a report issued by a man who is connected in China at the highest levels. What is most interesting is that he now believes that the price of gold is headed to $3,000.
With the price of silver hitting the highest level since 2013 and gold once again hitting a new all-time high, US dollar troubles continue.
On the heels of the price of gold surging well above the $2,000 level, Michael Oliver, the man who correctly predicted the price of gold would not pull back and would continue its aggressive surge, just warned King World News this may cause gold to gap $100-$200 higher.
With the price of gold surging another $30, prepare for a surge in gold stocks and a super surge in junior mining stocks, plus time for gold $2,000 hats.
With the price of gold surging above the $2,000 level, the shorts are getting squeezed once again as silver bulls prepare to attack $26.
This is certainly not a good sign.