Mutual Fund Guru John Ing predicts rebound in gold prices by Fall'13John Ing, a well-known analyst here in Toronto, yesterday commented on the drop in gold prices. he said that gold stocks are ridiculously undervalued and there are no fundamental changes in the global economic situation to rationalize the current price. He stated that the worst of the Great Recession has yet to rear its ugly effects and that the U.S. debt ceiling debacle will surface again in the Fall. More money will have to be printed and when the QE program does finally end, we will be right back to where we were before they introduced this program. Companies everywhere are reducing staffing; cutting production; slowing projects down and turning them into longer term enterprises and basically cutting expenditures. This will leave gold in short supply. The Middle East is a powder keg and Egypt is no better off today than it was before the hunta overtook the Marsi government and Iran is gearing up to complete its nuclear weapons program. Syria is ready to implode and turmoil in Turkey could disrupt oil supplies further which will hurt the oil producing cartel by choking off a great deal of its usual cash flows. Paper currency will come under extreme pressure when the inflation bubble finally bursts with the ending of the easing program. When that happens and inflation starts rising, the only alternative will be gold currency for those who want to try to protect their buying power and their financial resources. He recommends that investors should buy gold producers and wait through this correction, however long it may take. He emphasized that investors will be well rewarded for doing so.