MARK&SHARK

Precious Metals: Emotions Still Stronger Than Fundamentals

I have read 50-70 words of it,maybe you are right.But who said there is shortage of GC (maybe the same honchos that said Lehman Brothers is going bankrupt,even if it might be true at some point).
Where is all the GC Central Banks sold at 1000$,wasn't it bought by dealers who expected to resell it to average Joe for 1500$ in coins,bars,jewelry.
What happened in reality is,the hedgies that bought then futures for 1000$ average took physical delivery as price was lower in a matter of days,they expected to get rid of it sooner and get their money back,but as it didn't happened those same investors today are bleeding and spread various rumors that there is no Gold on earth,that all gold is already sold to Indians,Chinesse,Russi... then in fact each ounce of gold mined since 2000 years ago and before is still here with us in jewelry,coins,watches etc., that was lost is maybe 50% of all mined Gold,but not every second person on earth losses his/hers all Gold.I have my Rolex Daytona 18K n my wrist and expect to have it tomorrow at the same wrist,only if somebody will come at night and cut my hand or still it,then this Rolex will still be somwhere else.
Bottom line,those like me that bought Gold investments in 1998 and sold them in few years time not being greedy made good profit and moved else,those that bought GC at 1000$ probably will never see their money.Greed knows no limits but pressure of the metals will make all those who bought higher sell at a loss,maybe then it will be a right time to buy GC again,but not before,excesses must be liquidated first.