Friday, 28 June 2013

Mike Shedlock Buys Basket of Large Gold & Silver Miners

Mike Shedlock is a prolific financial commentator with a deflationist perspective. However he has long had a constructive view on gold during deflation. He notes a recent  "significant" investment in gold and silver miners where he states
I believe precious metal miners represent true value, but I cannot state when the market will come to the same conclusion.
Full details - HERE

Also points to "Acting Man" discussing the "Plague of Gold Bears" - HERE
It is really quite remarkable: for ten years while gold did nothing but go up, most of these these guys were largely silent. Their gold price forecasts were on average dead wrong with unwavering regularity - they kept predicting price declines. Then, as it approached its peak, they suddenly turned bullish and finally raised their price targets (again, on average). Now that it is going through the first major correction since the bull market began, its decline is accompanied by inordinate sound and fury. No other market has produced such a flurry of widely and loudly telegraphed grave dancing.

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