Friday, March 8, 2013

The Gold Price Suppression isn't Working

"Every time the price suppression has pushed gold lower, the demand for physical has picked up. It’s picked up in the coins, bars, and you see the big central banks buying. There was an announcement that South Korea, a medium-sized central bank, just added to its gold position.
So the gold price suppression scheme players don’t understand that by lowering the gold price they are actually increasing the demand for metal. And they are making their job that much harder in terms of this managed retreat that they have been doing for the past 12 years in trying to keep a lid on the gold price.
My expectation is gold is not going much lower. We are in the process of putting in a bottom, and I think this is going to be long-lasting bottom simply because everybody knows that gold has good value down here."

- James Turk via a recent King World News Interview, read the full interview here: