Tragedy, Panic & The Greatest Short Squeeze
KWN interview April 14, 2013
We have seen massive manipulation in the paper gold market in the last few days and weeks. Please read my latest KWN interview which explains that this is nothing to be concerned about since the problems in the world economy are getting worse by the day. So far, into this morning, we have seen a correction in gold of 27% since the $1,920 top in September 2011. Remember that in 2008 gold corrected 34% from $1,032 to $681. From the $681 low, gold then went up almost 3 times in just 34 months.
This correction could last a bit longer, but once gold turns, we should see a very strong rebound which will reflect the deteriorating economic situation worldwide, as outlined in my KWN interview. Since the paper market will have to cover their shorts at that time, we are likely to see a very fast move in the second half of 2013.
The next target is still $3,500-5,000 and much higher over the next few years.
Remember gold (and silver) is held for wealth preservation purposes. It is therefore critical that investors hold on to their physical gold and silver and if possible add at these very low levels.
Egon von Greyerz
Founder and Managing Partner
Matterhorn Asset Management / GoldSwitzerland
Matterhorn Asset Management is dedicated to wealth preservation through safe and secure silver and gold storage in Switzerland. Protect your gold in the world’s safest vaults. To become a client, click here.