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INDIA SPEECH: Gold Market Situation & Outlook

Speech to the Sixth Annual India International Gold Convention Goa, India Jeffrey Nichols, Managing Director, American Precious Metals Advisors Thank you, Mr. Chairman for your kind introduction . . . and many thanks also to the conference organizers for inviting me to participate in this prestigious gathering. It is a great honor to be here today, not only to share my views – but to learn from you, and make many new friends in the Indian Gold Community. A few weeks ago, in preparation for today’s presentation, I asked the conference organizer what I should talk about.He said, I should ...

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KEY GOLD-PRICE DRIVERS

As clients know, we remain “extremely optimistic” on the gold-price outlook -- but, unlike many other bullish analysts, we believe the metal’s ascent will take several years to reach its next long-term cyclical peak. In the meantime, expect high volatility and a difficult climb, fraught with sharp reversals along the way that will, at times, cause some observers to wonder if the market has already topped out. Ultimately, gold will most likely climb into the US$2000 to $3000 range – but it could go even higher given the right confluence of economic and political developments . . . or if a ...

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IPMI Speech

Gold Situation and Outlook Presentation to the International Precious Metals Institute I've been asked to talk about one of my favorite subjects: Gold . . . or, more precisely, the global market for the metal and the factors likely to influence its future price.  In fact, gold is a subject on which I could talk for hours . . . but I've been asked to keep my presentation somewhat shorter - so I'll try to give you some highlights and conclusions. My comments today will be posted on my website - NicholsOnGold.com - so, if you're interested you can easily check back to review my analysis and ...

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GOLD: STILL VULNERABLE

Gold's tumble in recent days, now about 9.5 percent from its late-February high just briefly over $1000 an ounce, is no surprise to readers of NicholsOnGold.com.  Although we remain bullish for the long-term and foresee more than a doubling of the gold price in the next few years, the immediate picture is less rosy . . . and the yellow metal remains vulnerable to further short-term selling. A number of factors have contributed to gold's decline in the past week and may remain influential in the weeks ahead: •    First and foremost, the market has had to absorb an absolutely fantastic ...

NO SURPRISES

Gold's retreat in recent days from its brief flirtation last week over $1000 an ounce was no surprise.  We warned in recent posts that the surge in secondary supply, particularly from Asian and Mideastern markets, and the worldwide collapse of fabrication demand left the price vulnerable -- and an easing of investor interest could bring a sizable correction in the yellow metal's price. Moreover, when everyone seems to be jumping on the gold train, nary a bear is to be seen, bulls are uniformly revising upward their price forecasts, and the financial press suddenly gets all hot and bothered, ...

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A Brief Note on Gold ETFs

Bullion held in depositories on behalf of gold exchange-traded funds investors is at record levels . . .  and, in recent days, has been growing by leaps and bounds.  Worldwide total gold ETF holdings now exceed 1365 tons (42.6 million ounces). To put this number in perspective, ETFs now hold more gold than the Swiss central bank. Strikingly, gold held by ETFs now account for more than 40 percent of identifiable gold investment worldwide. ...

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