All the news for gold, both technical and fundamental, continues to get more positive almost every day.
The price appears poised to begin a major move to the upside. That should see the world’s mightiest metal test the $1900 area highs.
In gold market infrastructure news, precious metals processor Heraeus just opened the world’s most modern processing plant in Nanjing, China.
They are predicting a 20% increase in across the board precious metals demand in China over the next decade. How are the world’s mines supposed to provide this gold when global mine supply is peaking? They can’t, so… the price must rise.
The WGC (World Gold Council) has essentially reinvented itself. It is now a pro-gold industry body working diligently to support higher prices in the decades ahead.
In my professional opinion, the WGC’s move into China is another step forwards. It is taking gold out of the dingy fear trade rooms of the West and putting it back in its rightful place as the world’s most respected asset.
The WGC move into China will bolster its power in the world gold market and give it more “teeth” when dealing with the Indian government.
The WGC has recently been putting serious pressure on the Indian government not to raise the gold import tax, and that pressure appears to be paying off in a positive way.
The WGC is forecasting a massive 25% surge in gold demand for the second half of India’s fiscal year.
Barrick and Rangold are merging to create a mega-producer! I recently began accumulating Barrick stock and this fabulous news is an incentive to ramp up my accumulation.
I urge gold bugs around the world to pay tribute to the world’s largest producer. Buy at least one share of stock, just to be part of a new and awesome chapter in world gold mining history.
As good as it is today, can the news for gold get any better? Yes, it can.
