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Kayabas - Is The Gold Bull Market Over?
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Posted On :
Oct-23-2011
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Article Word Count :
430
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Kayabas: Sharp falls have led many to speculate that the secular bull market in gold is at an end.
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“Kayabas”: in the wake of precipitous falls in the price of gold in recent weeks, many commentators and economists have suggested that gold’s bull market is at an end.
Such suggestions are dismissed as “sheer idiocy” said an equity research analyst at Kayabas, “There is absolutely no way that the US dollar will be considered a safe haven by this time next year. Precious metals are the only viable safe haven assets because, unlike paper-based currencies, they cannot be printed or inflated by central bankers or governments,” he said.
The firm issued a $2000 by year end price target earlier this year and its analysts say that there are no plans to alter its view.
Gold traded as high as $1920 per ounce just over three weeks ago at, since then, it has been met by a wave of selling as speculators closed long positions in the midst of higher margin requirements on the COMEX division of the Nymex commodities exchange.
“Kayabas” believes that there is little chance of the uncertainty surrounding the global economic recovery easing and, therefore, even less chance of investors regaining their confidence in paper-based currencies.
Such suggestions are dismissed as “sheer idiocy” said an equity research analyst at Kayabas, “There is absolutely no way that the US dollar will be considered a safe haven by this time next year. Precious metals are the only viable safe haven assets because, unlike paper-based currencies, they cannot be printed or inflated by central bankers or governments,” he said.
The firm issued a $2000 by year end price target earlier this year and its analysts say that there are no plans to alter its view.
The pound sterling plunged immediately upon the news as investors speculated the measure would serve to boost inflation which is already sitting at more than double the Bank of England’s 2% target.
Gold traded as high as $1920 per ounce just over three weeks ago at, since then, it has been met by a wave of selling as speculators closed long positions in the midst of higher margin requirements on the COMEX division of the Nymex commodities exchange.
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Article Source :
http://www.articleseen.com/Article_Kayabas - Is The Gold Bull Market Over? _95707.aspx
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Author Resource :
http://www.i-newswire.com/kayabas-uk-growth-downgraded-yet/134049
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Keywords :
kayabas, brokerage, financial,
Category :
Finance
:
Finance
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