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Gold and Silver Price Manipulation
The Gold Report interviewed Matt Badiali from S&A Resource Report who talks about the gold and silver
price manipulation. Matt Badiali is a monthly investment advisory that focuses on natural resources-from small exploration outfits, to equipment companies, to the biggest commodity companies in the world. As a geologist, Matt focuses on all natural resources including silver, uranium, copper, natural gas, oil, water and gold.
Matt Badialdi wrote in the June edition of S&A Resource Report that stocks could see some pullback once QE2 stops injecting paper money into the economy. In the interview Badiali explains that he saw all of the resourses such as silver, oil and even gold pull back in April 2011. He said, "We felt there was enough commodity risk that we wanted to be careful investing in a lot of those companies. However, we jumped back into several silver companies because they just got too cheap not to take action. It looked like they had been oversold."
Answering the question regarding the big trend, Badiali said that gold was still a fantastic long-terminvestment. "That won't change until the U.S. and Europe get their financial houses in order," he said. He mentioned that gold and silver will continue to be bullish for the next few years. Regarding silver, Badiali quoted Eric Sprott who said that silver price will gain even more than gold.
Badiali once wrote an article about the manipulation of the gold price
. Regarding the manipulation, he explained, "I'm a geologist, a scientist. I looked at the gold price at Eric Sprott's suggestion; he gave me an idea that I could test with data from Datastream. When we did the math, I was shocked. So, now I do believe that the gold price is being manipulated somehow." He was asked if he was concerned that he put a lot of faith in a market that is being controlled and manipulated but he believed that manipulated or not, gold price has gone up every year for the last decade. This only proves that, "Either the manipulators are doing a terrible job or the trend is so inevitable that all they've managed to do is dampen it a little bit. The implication is that if the manipulators lose their ability to manipulate, gold prices could soar."
The price of gold has inevitably gone up for the past decade. Within the past 5 years alone, gold price has increased by $967.88. Within the past 6 months gold price increase has accelerated and gained $231.90. It is predicted that the price of gold will continue to rise to at least $1688 by the end of this year before experiencing a correction.
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