My Dear Friends,
I am on the road again. This time it is to speak at the GATA conference in London Friday afternoon.
The key concept in the gold market is that it has in no way performed like a classic blow-off hyperbolic top.
The price travel between $1600 and $1764 is fraught with points of resistance. The price journey in the next chapter founded by the fundamental reasons by Alf Fields and Martin Armstrong will soon be shown as correct. They will be the predictors of merit.
There is no reason to drop or reduce your gold hedges.
There is as always good reason not to carry any margin in a protective gold spread. Gold will only gain in volatility that will frustrate the greed driven mad margin trader.
Two major chapters in the growth of gold to reserve currency of the people’s choice are completed.
The last chapter is still coming going into 2015 and will be spectacular.
I will be in touch with you from the airport and hotel. I hope to see you at the conference.