As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies told King World News that investors should ignore the Fed engineered takedown in the gold market because the $1,350 Gold Maginot Line is going to fall.
Gold Maginot Line Will Fall
April 6 (King World News) – Eric King: “Egon, we’ve had some sloppy trading in the gold market but it feels like the sloppy trading is coming ahead of the major breakout — your thoughts on what’s unfolding here.”
Egon von Greyerz: “Eric, we’ve seen gold going sideways for over six years. And I’ve talked about this Gold Maginot Line — this $1,350 line — which we’ve essentially been underneath since 2013. They (Western central banks) are trying to hold it there but they are not going to be able to succeed. It (the Gold Maginot Line) is not a strong line for the simple reason that many currencies have already broken out to new all-time highs priced in gold. And many currencies, even Western currencies — the Swedish kroner, Norwegian kroner, Australian dollar, Canadian dollar, these currencies have also made new all-time highs (in terms of the gold price). So…To continue listening to the powerful KWN audio interview with Egon von Greyerz CLICK HERE OR ON THE IMAGE BELOW.
***Also just released: ALERT: Commercials Cover Large Number Of Silver Shorts! Also covered some gold shorts CLICK HERE TO READ.
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