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
"PVG provides a value opportunity." (4/23/14) Pretium Resources Inc. - The Gold Report Interview with Joe Reagor More >
"PRB's discovery is important for Ontario because it changes the whole geological understanding of this part of Canada." (4/21/14) Probe Mines Limited - The Gold Report Interview with Willem Middelkoop and Terence van der Hout More >
"MND remains our preferred low-cost gold and silver producer." (4/15/14) Mandalay Resources Corp. - Duncan Hughes, RFC Ambrian More >
"PGLC is building a very nice gold resource." (4/14/14) Pershing Gold Corp. - The Gold Report Interview with Michael Berry More >
"GUY is loaded up in cash and gold." (4/10/14) Guyana Goldfields Inc. - Tickerscores 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
"CYD has very savvy management." (4/9/14) Cayden Resources Inc. - The Gold Report Interview with Jay Taylor More >
"ZC is well positioned to accelerate the growth of its asset base." (4/3/14) Zimtu Capital Corp. - Stephan Bogner, Rockstone Research Ltd. More >
"ICG's base-case PEA for Lamaque has a pretax IRR of 51%." (3/27/14) Integra Gold Corp. - Mike Bandrowski, Clarus Securities More >
"SVL's value proposition has returned with its share price decline." (3/25/14) SilverCrest Mines Inc. - Joe Reagor, ROTH Capital Partners More >
"We are resuming coverage on PLG following the close of its $20M financing." (4/2/14) Pilot Gold Inc. - Tara Hassan, Haywood Securities More >