The Gold Report
I thought this was worth sharing. It is nothing new to goldbugs, but caught my attention when I noticed it was Citigroup making the statement. We are buying gold stocks on dips such as occurred on Tuesday, and have also been doing very well with international ETFs such as ILF (Latin America) and FXI (China). These funds will continue to do well as long as the Fed keeps intervening to prop up the economy. However, we have set stops and will keep a close eye on the markets as a declining U.S. economy will drag down the foreign ETFs with it. In the meantime, this has proved to be a good diversification strategy and has provided some of the best returns in our entire portfolio...
Here are the key parts of the Citigroup report...Hello U.S. media? Anyone home?
In a fresh report, Citigroup said:
The central banks have been forced to choose between global recession or sacrificing control of gold, and have chosen the perceived lesser of two evils.
We believe that the policy resolution to the credit crunch will take the form of a massive, extended ‘Reflationary Rescue,’ in a new cycle of global credit creation, and competititive currency devaluations. This could take gold to $1,000 an ounce, or higher.
The report’s authors, John Hill and Graham Wark, said that the avalanche of central bank bullion sales earlier this year was “clearly timed to cap the gold price.”
Jason Hamlin, www.GoldStockBull.com
Notable Quotes
"CGT has one of the better looking charts." (3/12/14) Columbus Gold Corp. - The Gold Report Interview with Eric Coffin More >
"ROG's PEA projects a low cash cost of $455/oz and a 47.7% IRR." (3/5/14) Roxgold Inc. - The Gold Report Interview with Ron Struthers More >
"BAR's drill results from Grasset attest to the area's underexplored nature and polymetallic potential." (3/5/14) Balmoral Resources Ltd. - Eric Lemieux, Laurentian Bank Securities More >
"TGM has demonstrated a 100% success rate at five new Karma targets." (3/4/14) True Gold Mining Inc. - Tara Hassan, Haywood Securities More >
"GUY will continue to be an excellent stock to own." (3/4/14) Guyana Goldfields Inc. - Ben Kramer-Miller, Wall St. Cheat Sheet More >
Citigroup: Global Credit Creation Could Take Gold Over $1,000
Source: Jason Hamlin, Seeking Alpha (10/4/07)
Citigroup Report's authors John Hill and Graham Wark said: We believe that the policy resolution to the credit crunch will take the form of a massive, extended ‘Reflationary Rescue,’ in a new cycle of global credit creation, and competititive currency devaluations. This could take gold to $1,000 an ounce, or higher.
More Experts
"BRI has made strides on the Sao Jorge project, increasing its Indicated resource by 94% since 2010." (3/3/14) Brazil Resources Inc. - Vivien Diniz, Gold Investing News More >
"ATY has a proven management team, high grades and expansion potential." (3/3/14) Atico Mining Corp. - Erik Bermel, M Partners More >
"ICG's Lamaque has all the qualities to become Val d'Or's next gold mine." (2/25/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report More >
"We expect KDX's Fire Creek PEA to confirm very robust economics." (2/28/14) Klondex Mines Ltd. - Erik Bermel, M Partners More >
"The results from CFO's Duparquet project are pretty encouraging." (2/26/14) Clifton Star Resources Inc. - The Gold Report Interview with Michael Fowler More >