From John Williams’ Shadowstats.com:
Gold Strength Has Been Fundamental, Not Speculative,
and Unavoidable Fundamentals Promise Much Higher Gold Prices
March Year-to-Year Inflation: 1.5% (CPI-U), 1.3% (CPI-W), 9.1% (ShadowStats)
March Real Retail Sales Fell by 0.25%;
Annual Real Growth Signaled Intensifying Downturn
March Production Gain of 0.4% was 0.1% Loss,
Net of Unseasonable-Weather Boost to Utilities
March One-Unit Housing Starts Fell 4.8%, in Low-Level Stagnation,
Multiple-Unit (Apartment) Starts in Recovery
I recommend a subscription for those who want the detail. He is the most credible source of government statistics that I know of.
I suspect there may be another attempt to slam the price of gold down to the $1,250 range. If I were on the other side, that is exactly what I would do in an attempt to further frustrate the holders of gold and the related stocks. As you can see from the above statistics, the economy is not improving thus there is no “fundamental” reason for the price of gold to decline.
I plan to be a buyer of precious metal stocks if that occurs and I have some cash to spare. If it does occur, I want to personally thank the other side for providing these purchases at such discount. I thoroughly enjoy a sale!