Mike Kosares of Centennial Precious Metals in Denver today updates his speculation about a possible "summer surprise" in gold. He also presents a chart showing that the gold price has usually correlated closely with the monetary base calculation of the Federal Reserve Bank of St. Louis and that the correlation abruptly broke down last April with the smashing of the gold price, what GATA and others have identified as desperate intervention by Western central banks. In any case, as Kosares notes, the divergence in that chart "suggests that at current prices gold might be on the bargain table."
Kosares' commentary is headlined "Summer Suprise Update" and it's posted at Centennial's Internet site, USAGold.com, here:
http://www.usagold.com/cpmforum/2014/07/10/go...d-says-inves...
