Many are already positive that gold is in for another bull cycle. What is certain is that Europe, and the course it takes over the next few weeks and months, will prove the defining factor for gold.

Mainland China’s gold imports from Hong Kong surged more than sixfold in the first quarter, adding to signs that the country may displace India as the world’s largest consumer of the precious metal on an annual basis.

The resulting poll showed that the audience believed more strongly that the rally is by no means over, and that silver could rise to US$100

Keeping silver and other precious metal prices low by depressing market sentiment, and perhaps even engaging in covert market intervention, seems suspiciously convenient after such an excessive amount of liquidity has already been pumped into the U.S. monetary system by the U.S. Federal Reserve Bank’s

“When you or I write a check, there must be sufficient funds in our account to cover the check, but when the Federal Reserve writes a check, there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money.”

3. Other Asian and Middle Eastern nations will now see the gold they hold as money free of Western economic interference.

According to Forbes, Beijing will pay for Iranian oil with their gold.
Imagine what further Chinese demand could do to present day gold prices…

Nonetheless China is accumulating physical gold, often via her Sovereign Wealth Funds, and other proxies, so that her bids are not open for all to see.

Gold has doubled since 1980 while the stock market has risen about 15X and somehow gold is the overvalued asset.

“From my point of view, we have to see a good shakeout towards the downside first, perhaps to break $1,600, or even lower than that and after that we will probably head back up again,”