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KWN Source - Gold Will Move $150 Higher Within 5 Weeks

The contact out of London has updated King World News on the massive Asian buyers which have been accumulating both gold and silver. The London source stated, “A bunch of the weak hands are now on the short side of this market. We are very close to a floor because of the massive Asian buying. People have to remember these Asian buyers are now controlling the gold and silver markets, it is not the little guy.”

“It’s all about the bond auctions, the bond fell off a cliff. In the derivatives market you’ve got JP Morgan playing the bond market at the behest of the Fed, going long 30 years versus selling short-term paper. They buy 30 year paper and then immediately hedge themselves by selling the 30, 60 and 90 day paper. It’s how they keep interest rates down, it’s how you do it.

The only reason interest rates are not in double digits in the US is because of this game. These guys are short front month paper. If this (the bond market) actually fell much longer, JP Morgan could be wiped out, I mean they would be liquidated. The Fed cannot allow them to do that. We’re witnessing history here.

Money flowing out of bonds is going into precious metals. So what they are doing is trying to paint the tape and make it look like a double-top in gold, with silver also retreating. Open interest went up into the decline, this is a gift (the decline). Asian buyers are laughing, we’re like a cartoon to them. They cannot believe how orchestrated this is.”

What about gold?

“As far as the gold market is concerned, gold will be $150 higher from here within five weeks.”

Well there you have it, this London source has called these markets to absolute perfection. There is a huge floor nearby, and gold will explode $150 higher in a matter of weeks. Stay tuned as we will have more from the KWN source out of London in the days ahead.

Eric King
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