Gold Price Volatility Opens Opportunities 2011
9:05 PM
Unknown
Why has the price of gold punched through every barrier to a record high of $1,500/oz.? The market's rigged, according to Peter Grandich, editor of The Grandich Letter. In this exclusive interview with The Gold Report, Grandich explores if it's time to unload silver and transition out of gold and why it could be the perfect time to look more closely at junior explorers.
Companies Mentioned: Alderon Resource Corp. Altius Minerals Corporation Barrick Gold Corp. Consolidated Thompson Iron Mines Ltd. Crocodile Gold Corp. Equinox Minerals Ltd. Formation Metals Inc. Heatherdale Resources Ltd. Northern Dynasty Minerals Ltd. Oromin Explorations Ltd. Rathdowney Resources Ltd. Sunridge Gold Corp. Taseko Mines Ltd.
The Gold Report: Peter, in a recent interview you said, "I believe the game is rigged. Not only is the silver market being manipulated, the whole investment world has been rigged." You suggested that Goldman Sachs and Morgan Stanley were tilting the game in their favor. Does that mean that those firms are responsible for driving up commodity prices across the board?
Peter Grandich: I was trying to emphasize that we are playing in a game that is heavily tilted against us. A classic example is that companies like Goldman, Morgan Stanley and others were selling mortgage-related products to clients while at the same time betting against those very products. Ironically, none of those people has gone to jail.
We are not on a level playing field. One of the main reasons I had been bullish on silver was the belief—a very small minority belief—that silver was manipulated for several years. At that point in time, it was actually helping the price. My call to sell silver was influenced by that manipulation because the price had gotten to such a high level......more
Posted in 
Subscribe to:
Post Comments (Atom)
No Response to "Gold Price Volatility Opens Opportunities 2011"
Post a Comment