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CHINA GOLD: MORE THAN MEETS THE EYE

The gold world has lately been abuzz with news and speculation about the true volumes of gold supply, private-sector demand, imports, and central-bank reserve accumulation. In recent weeks, every gold analyst and pundit seems to be jumping on the bandwagon.  But this is nothing new for our clients and readers of NicholsOnGold. For several years now, we have suggested that China's actual annual gold production, consumption, and imports have been running considerably higher than that suggested by official and semi-official statistics coming out of the Asian giant - and that China's central ...

Gold’s Long March Upward Continues

Despite gold's recent run up to new historic highs, I believe the yellow metal's price has far to go - both in future percentage appreciation and duration before the great gold bull market comes to its ultimate cyclical end. Right now, there is no evidence of a buying frenzy to suggest we are anywhere near a long-term top . . . but there are plenty of rock-solid fundamentals that suggest the market is healthy with plenty of room to move higher.  Moreover, the world economic and geopolitical environment remains very supportive - and seems likely to remain pro-gold for years to come. My ...

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Gold – Renewed Upswing Underway

Gold's recent price performance, strong physical demand for the metal in important world markets, worries about European and U.S. public debt, continuing aggressive monetary stimulus by the U.S. Federal Reserve, and news of substantial long positions by some prominent institutional investors and sovereign wealth funds together have contributed to the resumption of gold's long-term upward march. We believe that after a three-month period of correction and consolidation beginning in early December 2009 (when gold hit an all-time record price of $1,227 an ounce) gold has begun advancing anew - ...

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Gold: Long-Term Fundamentals Remain Promising

Regardless of the near-term prospects for gold, the long-term fundamentals promise substantial appreciation later this year and beyond. We remain firm in our conviction that gold prices will touch or surpass $1,500 in 2010 - and continue to move higher in subsequent years. Opportunity Knocks Gold at recent price levels offer investors and savers without a "core" position in the physical metal an opportunity to buy insurance against the very real possibility of future stock and bond market declines, accelerating inflation and a shrinking dollar, and turmoil in U.S. and world financial ...

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Speech to the 4th Annual China Gold & Precious Metals Summit

GOLD SITUATION & OUTLOOK: How Monetary Policies, Investment Demand, Central Bank Interest, and Other Supply/Demand Factors Are Affecting the Market and the Metal's Future Price Shanghai, China I've been asked to talk about the Gold Situation and Outlook - in particular how monetary and fiscal policies, private-sector investment demand, renewed central bank respect for gold, and other supply-demand factors are changing the market - and have important implications for the price of gold over the next few years. The place to begin is with the U.S. and global macroeconomic situation - ...

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Hong Kong Speech: Gold Market Situation & Outlook

Speech to the Gold Outlook Asia 2009 Conference Hong Kong I’ve been asked to talk about the world economic and financial crisis – and the implications for gold.In addition, I want to discuss important changes in the official sector and structural developments in the private investment sphere that have important implications for the price of gold over the next few years. The place to begin, however, is with the U.S. and global macroeconomic situation – past, present, and future. This is an especially appropriate topic for an American economist since it has been, in large measure, America’s ...

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Buenos Aires Speech: Gold Market Situation & Outlook

Speech to the Latin Exploration 2009 Conference Buenos Aires, Argentina Jeffrey Nichols Managing Director, American Precious Metals Advisors Senior Economic Advisor, Rosland Capital I've been asked to talk about the world economic and financial crisis - and the implications for gold. This is an especially appropriate topic for an American economist since it has been, in large measure, America's economic policies over the past several decades that have landed us in today's international economic predicament. The root cause of the current economic crisis has been decades of easy ...

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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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