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Gold Dollar Values Prices Soaring, more catalysts coming sending Gold Higher
Gold longs have stood for delivery of over 43 tons of physical gold on the COMEX. This may be the catalyst that we have been waiting for to start the price of gold higher to my initial target of $2,350 on the way to much higher prices.
Yesterday, was first notice day for February gold contracts on COMEX. Longs have indicated that they want 43 tons of physical gold despite the antics of the paper shorts. That is equal to over 13,200 contracts (unheard of previously). The days when the gold and silver shorts can manipulate these 2 markets are coming to an end. You must have physical. The example of Germany wanting back its gold on deposit with the US is an example of the things to come. Now Austria, The Netherlands, Switzerland, Portugal and others also want their gold back, but it has all been leased out to the gold shorts who do not have it to give back. That is why Germany has accepted the 7 year time frame to allow gold mines to bring the deep storage gold out from the ground, make it into good delivery bars, and then ship back to Germany and the others.
Anyone want to guess what the price will be in 7 years after the price run-ups. This is not going to be a repeat of the 1980's when gold was allowed to fall back in time. With all the paper printing and possible economic problems out there, once the price goes up thru $1936 it will continue up until gold reaches a plateau of from $8,000 to $20,000. After it stops going up and plateaus, it will then be converted and guaranteed by all governments (including the Chinese, Russians, Indians, Japanese, Europe and the Americas) in their local currency. Silver, in time will reach unheard of #'s!
This is the time to take both initial and add-on positions in both gold and silver. Although very positive for Gold, Silver in the long-term will iqfop do even better than gold since there is only about 10 years left of silver mineral assets left in the Earth’s crust, according to the USGS. I am certain, that in my children’s lifetimes, the Silver price will increase relative to the Gold price due to scarcity. If fact, at the present time there are silver shortages beginning to emerge in the Silver Coin business.
We have product available, even though some shortages have started to develop in the industry.
This is the last time to get in at low relative prices. Call me to discuss anything about these events. My 8 years in charge of all banking and financial institutions for Touche Ross was not in vain. It prepared me (and now all of you for what lies ahead)!
All the best, and have a little glitter and shine in your lives for 2013!
Ed Sheldon (CPA retired)
Sheldon's Finest Coins
Page Updated Last on: Feb 24, 2013