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Goldman's 'gold is dead' call is perfect contrarian indicator, Ron Rosen says

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Published : December 06th, 2012
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Financial letter writer Ron Rosen today tells King World News that Goldman Sachs' call for the end to the gold bull market is a perfect contrarian indicator. Rosen compares recent gold charts with charts from the gold bull market of the 1970s and sees great similarities. An excerpt from Rosen's interview is posted at the King World News blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/12/5_Ro...

 

 

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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Latest comment posted for this article
Agree that's its good for rehabilitation too. Many Vietnamese can testify to that when they resettled in Singapore and Australia. If the gold price moves to $900, its very good news for Asian buyers. More physical will be bought and delivery will be requ  Read more
William Tan - 12/10/2012 at 7:15 AM GMT
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Agree that's its good for rehabilitation too. Many Vietnamese can testify to that when they resettled in Singapore and Australia. If the gold price moves to $900, its very good news for Asian buyers. More physical will be bought and delivery will be required. Asians in general want the physical. They want to touch and hold. As it has been said many times on GATA; "if you cannot hold it, its not yours."
Tan is right. During partiton between India and Pakistan in 1947, it was only gold that we could manage to conceal and carry leaving our landed properties and farms behind. Gold was concealed in all possible nooks and corners of our physical self, especially women hid it in their hair and clothing. Some of us who got cornered bartered gold to save our lives. Gold also helped in rehabilitation and making a new beginning. Gold's low volume and high value came to the fore. The history of the human civilisation establishes the connect between mankind and gold.Many an empire fell because of it ( Timur invaded India 17 times) but gold still reigns supreme, only changing its masters.
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A lot of the new generation have got no memories of past history or knowledge of what's valuable in times of crises or wars. I lived in Singapore and remember stories of Japanese occupation, war in China and Vietnam. Only gold got them out to safety when all else fail. Vietnamese who escape the hardship of war n starvation had gold bars as medium of exchange. That's why Asians has a close affinity to precious metals.
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