September 24 (King World News) – This astonishing chart from SentimenTrader shows that the Rydex Precious Metals Assets now show an extreme level of pessimism that rivals that seen when the price of gold was trading near $250 an ounce in the 1999 – 2001 time frame (see chart below).
King World News note: What is also quite remarkable is that sentiment in the gold market has actually been worse with gold trading above $1,100 than it was was gold was trading near $250 (see the stunning chart below).
The Greatest Wealth Transfer In History
As I said in a KWN piece last week: “This is all part of a longer-term bottoming process in the gold market. It’s impossible to know if the bottom has already been made, but there is no question that when gold enters the next leg higher in this secular bull market, fortunes will be made on the upside in gold, silver, and the high-quality mining shares. Likewise, fortunes will be lost as paper assets such as bonds implode as one of the greatest wealth transfers in world history unfolds.”
at http://kingworldnews.com/is-the-greatest-wealth-transfer-in-history-starting-as-gold-and-silver-shorts-run-for-cover/
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