Re: Gold, lower before higher? From jsmineset.com
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Solid foundations. New horizons.
Message: Gold, lower before higher? From jsmineset.com
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Hello ElP,
PRB would do much better at $2400/oz. The tide of $7000/oz would lift all golden boats (large and small gold companies). At this POG level, Probe SP would go ballistic.
Chinese people (actually almost all the people in Asia) love the golden stuff. Another believer in gold is India (population: over 1.2B, compared to China's 1.3B).
Holiday season is coming up starting with November (Diwali), then X-mas & New Year, and the Year of the Goat starting 19 February 2015. This is the season for gift giving (gold jewelries) in those countries, in addition to cash-rich countries like Saudi Arabia et al.
Check out the Forbes link below for gold demand in India prior to Diwali.
goldhunter
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