Hinde Capital’s Ben Davies says the debt crises in Europe and the U.S. will lead to only one thing: Gold 2K. He tells King World News:
“This has the smell of 1998 when I was trading US government bonds and everyone was away on holiday and problems were beginning to brew. Stock markets were beginning to get violent in reaction to Russia’s problems and it all kicked off in the summer months and people were being called back to their desks. I just have that same kind of feeling now. This is not one I want to fight, the market is a little bit rich now in the short-term, but this could be the baby that takes us over the course of the next four months to that very tantalising level above $2,000. I really think this is the move.”
Notably he’s more worried about Europe:
“I think we are going to see in Europe as I’ve maintained from the start, there will be a default. We already have a default in process, what remains to be seen is, is it going to be disorderly? This is all highly conducive for gold.”
Listen to the rest at King World News. Here’s a chart to reflect on:
Don’t miss: Here’s The TRUTH About What Moves Gold >
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