King World News has just published an extraordinary interview with Andrew Maguire in which he states that two JP Morgan whistleblowers have confirmed that the bank was actively manipulating the gold market. This confirms what many of us have been convinced of for years.
The time for the rigging of the gold market will come to an end and probably a lot sooner than many believe. And when it does, the distrust in the paper gold market combined with an acute shortage of physical gold will drive the gold price to much higher levels. The move will of course also be fuelled by continued and massive money printing in most countries and especially in the USA, Eurozone, UK and Japan.
Gold is likely to reach new highs within the next 12 months and my targets of $2,500 for gold and $70 for silver during 2014 still stand. The longer term price objectives will be multiples of these levels.
Egon von Greyerz