The price of gold is spiking toward the $2,000 level post-Fed decision, but here is the really big surprise.
The Big Surprise
July 29 (King World News) – Eric King: “James, your colleague, Alasdair Macleod, spoke with King World News earlier today and warned the gold bears that the bullion banks would be forced to push the price of gold even higher after the FOMC decision. Alasdair nailed it. But I find it interesting inside the gold community that there were so many people waiting for gold to be smashed after the Fed decision. There is truly a large number of individuals in the gold community waiting for the next shoe to drop.”
“Nobody Believes, And That’s So Wildly Bullish”
James Turk: “That was a terrific call this morning by Alasdair before the Fed Meeting. And as you said, Eric, nobody believes, and that’s so wildly bullish. We’re in the early stages of a bull market and we can expect to see wide-ranging disbelief. That’s what bull markets do, they climb a ‘wall of worry.’
The Fed is between a rock and hard place. Decades of monetary mismanagement are coming home to roost, and from their perspective they can blame it on the Coronavirus. But the reality is if you debase the currency through too much money printing, eventually the precious metals respond with new record highs, and that’s exactly what we are seeing.
Higher Gold & Silver Prices Are Coming
From 1913 to today, the price of gold has gone from $20.67 an ounce to approaching $2,000. Given that 100 year track record, what is the likelihood that the Fed reverses course on its easy money policy? What is the likelihood that the Fed turns down the right road and leads us toward sound money? It’s not going to happen, Eric. That means higher gold and silver prices are coming. And as far as the gold market surprising participants once again today by surging higher post-FOMC, that is what happens in bull markets — the surprises are almost always on the upside.
By the way, the massive volatility we are seeing today as well as in recent weeks is a classic hallmark of a bull market. Expect more of that in the weeks ahead. It reminds me of the big gold and silver bull market in the 1970s. Things really got wild on the tape. As I said, expect more of that in the future.”
Also of importance…
Multiple High Grade Gold Assays Over Wide Intervals
Bryan Slucharsuk: “Eric, we have just received our first assay results from this program and I am very pleased to report to you that our initial holes have encountered multiple wide cuts of high grade gold. This is an exceptional start to drilling and the high gold grades are going to create a lot of attention.
Spectacular Gold Intercepts – And They’re Just Getting Started
Today, Fosterville South announced some spectacular gold intercepts. Investors can view the Fosterville South News Release for full details but results include holes such as GMDH28 which records core length 39.5 meters at 7.25 g/t Au from 118.6m including 10.6m at 17.1 g/t Au from 137.85m and drill hole GMDH26 which records core length 5.8 meters at 18.4 g/t Au from 91.8m including 4.6m at 22.68 g/t Au from 93m. Also note, that in drill hole GMDH28, three occurrences of visible gold have been observed over a drill length of 12 meters located on fractures and within quartz veins.
Mineralization Open Along Strike & Depth And Drilling Is Accelerating
Drilling is ongoing with two drill rigs currently turning at Golden Mountain. The mineralization is open along strike and open at depth so we are incredibly excited. In fact, in the past few days, our team in Australia have quietly staked another 400 square kilometers for Fosterville South and therefore have tied up the prospective ground contiguous with our Golden Mountain claims. With high grade gold results like this, we wanted to make sure to have everything around us tied up and consolidated.
My personal belief, Eric, is that this gold bull market is just getting started and it is a once in a generation opportunity. And for us to have these types of high grade gold results at the start of a drill program in one of the top jurisdictions in the world is incredibly exciting. I can’t wait to talk again in the near future as more gold assay results flow from our increased drilling activity at Golden Mountain. Fosterville South, symbol FSX in Canada and FSXLF in the US.
Legend Pierre Lassonde gave an an incredibly powerful interview to King World News discussing where the gold market, gold industry, and mining stocks are headed, and what he had to say will surprise a lot of people around the world. To find out why legend Pierre Lassonde says the upside on gold is unlimited and much more click here or on the image below.
FOMC: Bullion Banks May Be Forced To Push Gold Price Even Higher
***ALSO JUST RELEASED: FOMC DECISION: Bullion Banks May Be Forced To Push The Gold Price Even Higher CLICK HERE.
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