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overtheedge
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Speculative Gold Bets at 5-Year Low; Metal Will Get “Crushed” Says Credit Suisse

- Mish - Global Economic Analysis

"The metal will get “crushed” and trade at $1,100 in a year and below $1,000 in five years as inflation fails to accelerate, Ric Deverell, the head of commodities research at Credit Suisse Group AG, said in London on May 16. "

If you do business with Credit Suisse Group AG, you deserve exactly what you get. In five years? These oxygen thieves must be reading the contents of the goat entrails. Or ...

They have a plan. You get stuck with the contents of the goat entrails.

Commented 4119 days ago

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Beginning of the headline :Sentiment is never a perfect timing instrument.Yet, with Hedge Fund Bets on Gold at Five-Year Low I am comfortable stating the gold bull market is not over. Hedge funds are the least bullish on gold in more than five years as speculation about the pace of money printing by central banks whipsawed prices, driving volatility to a 17-month high. Money managers cut their net-long position by 9 percent to 35,686 futures and options as of May 21, the lowest since July 2007, U.S. Commodity Futures T... Read More

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