from King World News
On the heels of the $50 takedown in the gold market, today the man who has become legendary for his predictions on QE and historic moves in currencies and metals told King World News that there are major physical shortages in the LBMA and futures markets.
Brief Dip Before Major Upside Wave In Gold
February 4 (King World News) – Egon von Greyerz out of Switzerland: “Eric, I’ve been expecting a final move down in what has been a lengthy correction into the $1,700s. The bottom could be $1,750 or even slightly lower. But, Eric, my anticipation has been purely based on the technical picture in the short-term and the technical picture is very clear, this is the final move down before another major upswing in gold and a very long lasting and strong wave. So whether this takes a week or even less, I don’t know, but this is the final move down, and this does not worry me in the slightest because it clears out the technical stuff so that the next move is going to be a major one to the upside…