Gold investor tactics in a stagflationary era
“After rallying to the $1566 area, gold has pulled back to about $1500. . . Strong trend line support is already in play. Investors need to keep an open mind; it’s possible that the $1500 area is now support rather than resistance, and gold is set to rally towards the $1600-$1700 area.”
USAGOLD note: Thomson covers a lot of territory in this opinion piece and ends up predicting a gold market very similar to the stagflationary 1970s.
|ALERT! Institutional shortages of physical gold and silver have impacted hedging facilities in the New York Comex futures market, creating a unique market condition where the spot prices of gold and silver at which a physical dealer can hedge - and therefore use as a basis to price it products - is currently trading approximately $20 higher (gold) and 20¢ higher (silver) than what our pricing system indicates in the menu bar above. The June gold futures contract represents a more accurate price at which gold products will be priced against. Due to these extraordinary pricing conditions, all gold and silver orders must be confirmed by telephone only. We are closely monitoring this situation, and we will update when more information becomes available.|
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