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Discussion Topics -- September 2, 2015

Shades of 2008
World Stock Markets Fall Sharply
Gold/Silver Demand Skyrockets

(September 2, 2015 discussion) Shades of 2008. As the Shanghai Composite Index started falling in July, markets all over the world began to gyrate. Even gold saw a significant down day on July 20th, crashing over $50 overnight before eventually stabilizing. Such a strong move downward brought out all the bearish analysts, some even calling for $350 gold. Yet, as is often the case, when sentiment was so overwhelmingly negative, gold unexpectedly held its ground. Fast forward a couple of weeks, and a couple of surprise devaluations of the Yuan has prompted heavy downside volatility in all stock markets. Some might say gold should be rocketing higher given these circumstances, but for those of us who are students of the past, we remember that in 2008 gold initially fell (ironically giving fuel to bears back then as well), before eventually tripling over the next three years. And just like in 2008, demand for the physical metal has skyrocketing over the past 6 weeks. Mints around the world are experiencing delays, and premiums on silver products have pushed sharply higher. It seems, as has been the case many times before, the physical market is telling a decidedly different story than the paper market. Eventually, the two will come together, and if the 2008-2011 period is any indication, we may be on the doorstep to some very interesting times. 29:21 Minutes, with Jonathan Kosares, Peter Grant and George Cooper.

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Gold 2008

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Gold 2008

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Gold 2008

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Gold 2008

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Gold 2008

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