By SD Contributor SRSrocco:
STRAIGHT FROM THE JACKASS’S MOUTH…
Jeffrey Christian today proudly proclaimed on Mineweb that the gold bull market died in 2011, and that he correctly made that call 2 years ago.
As all of you know, Jeff Christian is CPM Group. Funny that he says the Gold Bull Market Died in 2011.
Let’s bring back one of his wonderful forecasts for silver from Financial Sense Round Table back in 2011:
2012 was a bull year for gold in number, says the CPM Group but, by other measures, the bull-run ended in 2011.
While it is undisputed that the market for the yellow metal faced a number of hurdles last year, including hikes to gold import duties in India, a decline in investment demand for the first time in three years and significant production cost rises, for CPM the most concerning bearish signal seen last year was an informational one.
As all of you know, Jeff Christian is CPM Group. Funny that he says the Gold Bull Market Died in 2011. Let’s bring back one of his wonderful forecasts for silver from Financial Sense Round Table back in 2011:
Jeff Christian gave his 2011 forecast on silver during a roundtable discussion on FSN Newshour on March 4, 2011 (at the time the price of silver was $34.50 an ounce):
* The price is going to be where it is now
* The price of silver will fall sharply during the 2nd & 3rd quarter of 2011, perhaps down to $22-24
* Then basically stay above $22 for the next couple of years, and then move up towards $30 over the next ten years.
Jeff believed in the beginning of 2011, that silver would fall from $34.50 to $22. He missed the big move up to $49. Missed that call. Then he says that silver will stay above $22 for the next couple of years, before it moves up towards $30 by the next ten years.
Silver averaged $31.15 in 2012, and so far this year has averaged $30.14… look like Jeff got this one wrong in spades by ten years.
Nothing like a good SLAP ON THE BACK to know that the price of gold will be heading up much higher due to the Bearish commentary coming from our favorite BEAR in a BULL’s SKIN… Jeff Christian.