Wednesday, February 12, 2014

Peter Schiff: Jobs, Gold, and Janet Yellen MUX, TNR.v, GDX, GLD, RGLD, ABX, GG

Gold Goes Vertical, Breaks $1,290 During Janet Yellen Testimony TNR.v MUX GDX GLD RGLD ABX

"Gold goes vertical with short squeeze in action after the $1,270 level today. The highest print was $1,292 so far and the real game of music chairs will be started after $1,300 and tomorrows headlines. The big boys are loaded as well as flood of articles positive for Gold in WSJ, Reuters and Bloomberg can indicate. General public is still chasing the last Bubble in the general equities and GDX - ETF with Gold miners is breaking above 200 MA today. The real reason for the run are actual Chinese numbers from Koos Jansen report of 2,181 t of Gold consumed in China in 1213 and the coming shortage of physical Gold.

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