Forget the Naysayers: Gold Prices Will Surge in 2014

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Forget the Naysayers: Gold Prices Will Surge in 2014

FTMDAILY.COM – As a strong advocate of sound money, FTMDaily has long been a supporter of gold as a countermeasure to the corrupt economic policies pouring out of Washington. After a punishing year in 2013, when the yellow metal fell by an astounding 28%, it appears that gold is beginning to rise like a phoenix from the ashes. It’s not that gold has suddenly become more valuable in 2014. Instead, it is more of a convergence of events that favor higher gold prices in the coming months. These include:

– The unstoppable and soaring demand for gold in China. According to Bloomberg:

“Chinese consumers bought a record 1,065.8 metric tons of gold last year, 32 percent more than a year earlier, as the country overtook India as the biggest user, the World Gold Council said Feb. 18.”

– Gold ETF flows, which have been in a state of decline since September 2012, are beginning to turn higher in 2014.

– Additionally, hedge funds have slowed their selling, while some have become net buyers. With U.S. interest rates staying steady and gold producers reacting to a decline in prices with massive cost-cutting measures, things are looking up for gold in 2014.

However, the big banks still remain mostly bearish on their 2014 gold price forecasts, as seen in the graphic below.

Of course, many of these bearish calls are coming from the same banks that have been manipulating gold prices for years. While the banks continue to deny any manipulation, the evidence points to obvious collusion.

One recent and notable exception to Wall Street’s naysayers on the future of gold prices is Nomura Securities, which just raised both its gold and silver 2014 price forecasts. According to Barron’s:

“Nomura now expects gold to sell for $1,335 this year and $1,460 next, up from $1,138 and $1,200, respectively. The firm’s silver view went to $21.52, from $16.25.”

FTMDaily agrees that gold and silver prices will rise in 2014, but we expect prices to go even higher than these forecasts by Nomura. Of course, if you expect Washington to solve the U.S. economy’s deep structural problems anytime soon, you might disagree. Put simply, buying gold is like casting a vote against the Fed and Washington. That’s why we remain bullish on gold and silver in 2014.

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About the Author

Jerry Robinson
Jerry Robinson is the author of Bankruptcy of Our Nation: Your Financial Survival Guide. In 2010, Jerry created with a mission to wake up Americans and share with them the principles of true financial and spiritual liberty. Every Tuesday he hosts the FTMWeekly Radio, a podcast covering economic and geopolitical topics. Jerry has been blessed to be able to lecture around the globe on the topic of economic and geopolitical trends. He holds a degree in Economics from the University of Tulsa and resides in the beautiful Ozark mountains with his beautiful wife and son. Jerry is a licensed life insurance agent. See more