Just about every day I awake to read some bearish prediction on gold and/or an email telling me how wrong I am to be so bullish on gold (and mom, you can stop sending them-lol).
After decades of being aggressive sellers, Central Banks are aggressive net buyers of gold. I don’t believe it’s just a coincidence that more of them are seeking to make sure they physically control their own gold going forward.
This is why I endure the onslaught of Crimenex and the desire by the gold paper market pulling out all the stops in hopes of getting a major break in the gold price. The longer it slips away from them despite their best efforts, the bigger the rally can be.
My good friend Bill Murphy had these charts in his daily newsletter. To see how incredibly long the commercials have become while large and small speculators have gone in the opposite direction, suggests to this old-timer a contrarian play is upon us.
Gold, a Hedge Against Financial Repression
…..read it all HERE