NEWS AND COMMENTARY
April 16, 2001
Gold is Down, But Not Out
Larry Edelson, Safe Money's resident gold expert, weighs in with his
thoughts on gold:
The gold market has an uncanny way of faking out most investors. It sits idle for periods of time; then explodes upwards, covering more ground in a few days than most markets cover in a year.
Right now, gold is doing exactly that - sitting idle and trying the patience
of the staunchest gold bulls. The evidence that gold is on the verge
of an explosive move upward is overwhelming...
With central bank supplies declining, and most central banks’ gold already loaned out, I believe the downward price pressure from the central banks will begin to abate. That means the slightest rally in gold could turn into a monster move.
Combine these two forces with the fact that demand is holding near record highs, and it’s easy to see how gold could turn the corner and blast higher.
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