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
"P has discovered a 'bonanza' area in the Victoria vein.' (12/5/13) Primero Mining Corp. - Morning Coffee More >
"NRE has the highest basket price for contained minerals, within a well-defined resource with excellent expansion opportunity." (12/4/13) Namibia Rare Earths Inc. - The Gold Report Interview with Mike Niehuser More >
"LODE should double the rate of gold production in 2014 to 40 Koz/year." (12/4/13) Comstock Mining Inc. - The Gold Report Interview with Mike Niehuser More >
"NG is focusing on advancing Donlin Creek, arguably one of the world's largest undeveloped gold deposits." (12/4/13) NOVAGOLD - The Gold Report Interview with Mike Niehuser More >
"Investors should keep an eye on PG's Cove project in Nevada." (12/4/13) Premier Gold Mines Ltd. - The Gold Report Interview with Mike Niehuser 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
"CXO's North ROK could still contain 100–300 Mt, the size of Imperial Metals' Red Chris mine, which is down the road." (11/27/13) Colorado Resources Ltd. - The Gold Report Interview with Eric Coffin More >
"TGM has quite good logistics and very strong management." (11/27/13) True Gold Mining Inc. - The Gold Report Interview with Eric Coffin More >
"AR is one of the top five long-term plays in the growth-oriented producer space." (11/26/13) Argonaut Gold Inc. - Jordan Roy-Byrne, The Daily Gold More >
"CGT is one that I really love. I like it even more since it recently did a deal with Nord Gold. This could be a real big winner." (11/25/13) Columbus Gold Corp. - The Gold Report Interview with Jay Taylor More >
"Those looking for platinum prospectors that appear 'cheap' might take a look at NKL." (11/21/13) Prophecy Platinum Corp. - Thom Calandra, The Calandra Report More >