GREY:VITFF - Post by User
Comment by
HarrisonFjordon Jan 10, 2012 1:35am
386 Views
Post# 19384903
RE: Juniors up when Gold comes
RE: Juniors up when Gold comes Don't put too much stock into the daily price from the COMEX (paper price). The Au price is subject to massive naked (counterfeit) shorting and the Ag market is far worse. The is no mechanism that can decipher between real and naked shorts. The POG in terms of fiat WILL go much higher.
Throw all of your charts out of the window. Fundamentals will always trump technicals. We are in uncharted waters where horrendous fiscal responsibility is at an all-time high. China, India, Russia, etc....and SWF's are chomping at the bit to acquire more gold. Demand for gold (and silver) has never been stronger in modern history. EVER! Charts are absolutely meaningless at this point. There have been very few prognosticators that have been correct in their timing but many have correctly predicted the POG will be much higher. As the printing presses go into overdrive, whether it is QE or SDR's, the POG will soar over $2000 and beyond. When this will happen who knows? Your guess is as good as mine.
The shorts will be scrambling to cover soon enough. Physical delivery is their worst enemy.
Hang on to your VIT shares. VIT will eventually trade much higher due to their massive and growing resource base. Be patient. It will pay off. HF