Has GATA taken things out of context? China doesn’t think so
Dear Friend of GATA and Gold:
In commentary posted at Kitco yesterday, “Confessions of a Gold Analyst: Will You Let The Inmates Run The Asylum?” —
— ElliotWaveTrader.net writer Avi Gilburt criticizes GATA for being “wrong” for more than four years.
But wrong about what exactly?
Gilburt mistakenly perceives GATA’s work as being to predict imminently higher prices for gold. While higher prices are implicit in the huge short position central banks long have been underwriting in the gold market, GATA’s work is not to give investment advice, nor to predict prices. Rather GATA’s work has been to document, publicize, and oppose the largely surreptitious intervention in the gold market by central banks, and to oppose their market rigging generally.
GATA’s work explains why fundamentals of supply and demand have not been manifesting themselves in the gold market — indeed, why neither fundamental nor technical analysis of the gold market is much use.
The Article is from GoldSeek.com:
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