Despite the painful decline in gold and gold shares that persisted throughout the entire year, we believe that the fundamental case for both remains strong. It seems to us that the correction has left the entire sector sold out and friendless. As contrarians, our experience has been that attractive investment returns arise out of such …
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The year drawing to a close has been a remarkable one, and not just because of the stellar performance put in by the market. Economic, and, more strikingly, political, developments which one might have thought would have had profound negative influence on the market seemed not to have mattered to equity investors. At the same …
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Gold and gold mining shares spent most of the third quarter backing and filling without establishing any clear direction. Gold increased 7.6% during the quarter, closing at $1328.6/oz, but down 20.7% year-to-date. The XAU Index of gold and silver stocks rose 4.1% during the quarter, and was down 42.5% on a year-to-date basis. The rationale …
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In light of the dramatic developments of the past six months, this letter addresses seven key investor concerns: What is happening to gold? In our opinion, the severe pressure on gold prices since April 16, 2013 has been caused by a coordinated bear raid orchestrated by large bank trading desks and hedge funds. The …
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Gold bullion prices have been subjected to a cleverly orchestrated bear raid in our opinion. Selling of paper Comex contracts on Friday, April 12th, and Monday, April 15th, totaled 1 million contracts, exceeding global annual gold production by 12%. The attack succeeded when the technical support in the low $1500’s/oz. easily gave way and led …
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