http://www.grandich.com/2013/07/gold-i-never-have-been-more-bullish/
After no involvement with gold for a few years, I came back into the
gold market in the spring of 2003 because it looked like gold had
bottomed—it was just under $325 at the time—and the thought was that it
could make a run towards key resistance at $400. That’s right – $400.
While stepping aside for corrections in gold and silver along the way, I
rode gold to its September 2011 highs…
The neon sign over my picture that flashed “GENIUS”
would end up blowing a fuse and then fall and smack me in the head, a
reminder of the infamous saying among pundits, “You’re only as good as
your last call.”
I said a couple of weeks ago during an interview that we won’t see
gold under $1,200 again in my lifetime, and at age 57, I’m not planning
any exit soon from this earth. (But if I end up wrong my wife could
force the issue.)
Because of some critical factors, I have never been more bullish on gold.
The first factor, IMHO, is the single biggest bullish factor and I
doubt it will be found on top of most others’ lists, if mentioned at
all. However, I believe it was the match that lit the fuse to a coming
explosion in gold unlike any other since gold began free trading 40+
years ago, and those who know me throughout my 30-year career in and
around Wall Street know I have never even remotely spoken like this.
After initially not allowed to see its own gold despite demanding to
do so, Germany announced this year that it will seek to have 20% of its
gold held by the U.S. returned to Germany. Now, that in itself didn’t
make it my number one bullish reason; the fact that Germany was told it
would take up to SEVEN YEARS to complete the task did!
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