Friday, September 25, 2015

Is The Greatest Wealth Transfer In History Starting As Gold And Silver Shorts Run For Cover?

"With the price of gold surging nearly $25 and silver up 2.5 percent, today King World News answers the question:  Is the greatest wealth transfer in history starting as the gold and silver shorts run for cover?  This piece also includes two key illustrations that all KWN readers around the world must see.
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).
KWN SentimenTrader I 9:24:2015

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).
KWN SentimenTrader II 9:24:2015

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.”

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