Bob Chapman : at $2000/oz by the end of this month

Bob Chapman - The Sovereign Economist - 11 Aug 2011

Bob Chapman : The Banks are stepping all over silver , JPM upgraded its forecast for gold to $2500 /oz before the end of the year , I have been in this business for 52 and half year , , when Morgan does that it means that they want to stop the movement upward for gold towards $2500 that's what it means because they know it is going higher , they are the biggest shorts in silver , HSBC is second and then comes Goldman Sachs Citi group etc....they are trapped , their positions are higher now than they were in April , but they know the market is going to go higher and they are going to do anything to hold down the price of silver and they are not going to be successful , we are going to shot $2000/oz may be even $2200/oz by the end of the month and if that happens we are probably looking at $3000/oz by the end of February , the good months for gold run usually through the end of February

Marc Faber : Hardly anyone owns any gold

Marc Faber : “I don’t think it is a bubble, but I think the gold market has exploded to the upside recently and the correction is overdue. But as I have always maintained for the last 12 years, every responsible adult should gradually accumulate gold, because not owning any gold is the trouble with government. I don’t understand. People of Bloomberg, I hardly know anyone who owns any gold physically. All of the Bloomberg employees are intelligent people. They listen to the news every day. They make the news every day. Hardly anyone owns any gold.” - In Bloomberg Aug 11

Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

Bob Chapman : all the hedge funds and others are using naked short selling

BOB CHAPMAN - A MARINES DISQUISITION - 11TH AUGUST 2011

Bob Chapman : they are using naked shorting and flash trading which is illegal , the crooks are running everything and they get away with everything ...all the hedge funds and others are using naked short selling and it is ruining the markets , if I was in Europe I would ban all derivative trading says Bob Chapman of the international forecaster