J.P: Says "YES"! and gold closes at: $1,373.70per oz. up $12.80 Friday, Aug. 16-2013Thank you bada123bing as it seems we both see the future of ANX in relation to gold in very similar terms.
Yesterday, on 680AM NEWS, Market Report, it was noted that J.P. Morgan has sent out a client recommendation sheet in which gold has been listed as a BUY for clients with a longer term horizon. Their ``longer term horizon`` was indicated to be sometime into the early Fall 2013 and clients should be accumulating now. They see gold possibly reaching $2,000per oz., by years end with all of the geo-political and socio-economic turmoil in the world, especially the Near East, where in Egypt, the Muslim Brotherhood has vowed to die for jihad and to see one of their own reinstalled as President. This will dramatically impact negatively Egypt`s fragile ability to cover its debts and essentially destroy what little of an economic base there is in that country. Egypt is heading for total social and economic failure and the IMF will not bail them out again without some indication of stability and austerity returning to this ancient land. With 90 million people, Egypt should be a major force in the Near East but it is now dragging Syria and Turkey into the bloodbath. Both of these Islamic states are hotbeds of Islamist jihad with thousands of jihadists willing to join the cause as a means of bettering their lot from abject poverty to some food to eat and a cause to live for. The U.S., which trained the Egyptian forces, is now abandoning them and even the Coptic Christians are being slaughtered. The U.S. has this tendency to prop these terrorist regimes up to meet their own purposes, then, let them sink into chaos and civil war. This so-called replacement democratic regime is no better than the one it replaced under Morsi and somewhat so under Mubarek.
Lou Schizas who reports on the markets all over the radio band, quoted gold at closing at $1373.70per oz. yesterday and in his commentary, indicated that shortages are just around the corner as the market has clearly moved away from the high-flying financials and industrials with a trend now developing into the gold sector, for those who are patient. Recent U.S. metrics have been disappointing and QE tapering is now widely expected in spite of the disappointment over recent economic indicators and world economic and social turmoil. Should gold manage to claw up to the $1400.00per oz level, then ANX should have little to worry about. Let`s hope so! In some respects, smaller producers like ANX, are in a better position to take advantage of the recovery in gold, than the majors who are now finding themselves losing billions of dollars and closing down many higher-risk ventures due to the risk factors in operating in geo-political and socially unstable hotbeds outside of Canada. With NO DEBT, a working high-tech milling facility and plenty of surrounding near-surface high-grade resource stock, Anaconda is truly in an enviable position.....too bad the sellers can`t or won`t see what is right in front of their eyeballs.