Today one of the most highly respected fund managers in Singapore told King World News that people should expect to see some serious fireworks in the gold market. Grant Williams, of the Vulpes Precious Metals Fund, also discussed the imminent “Golden Cross” in both the gold and silver markets.
Williams: “At this point it’s all a matter of confidence returning in the gold market. We’ve seen the mining stocks lead to the upside. So we’ve seen some really good outperformance by the mining equities, which you would expect. They are showing real good signs of follow through because of some serious buying coming into the sector.
This recovery has been a long time coming. People may now be starting to get some confidence and a sense that things are turning around here. Yes, we have seen some false starts, but this one looks like it may actually be the real turn.
Gold may not go screaming straight back to $1,900 from here, but if we hold $1,300, and we hold it strongly, and then we get through $1,350 and hold that level, you are going to see an awful lot of people start to look at gold from the long side and that’s when the serious fireworks are going to start.”
Source King World News
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