Of David Rosenberg naar aanleiding van de uitgelekte brief van Warren Buffett het orakel uit Ohama van repliek dient, is ons nog niet meteen helder. Wel is het duidelijk dat Rosenberg de puntjes op de ‘i’ zet voor de critici van goud! De stierenmarkt voor het gele edelmetaal is in volle werking, waarbij hij een koersdoel van MINSTENS 3000 dollar voor ogen heeft:

“Indeed, the yellow metal is trading less and less like a commodity over time and more like a currency – a currency that is no government’s liability and where no central bank has a printing press. The Bank of Japan just announced how it has been engaging in “stealth intervention” to weaken the Yen.  The Europeans desperately need a soft Euro to have exports act as an antidote from escalating fiscal drag.  Of course, we saw the Swiss last year throw in the towel on accepting a strong Franc.  In the emerging markets world, there has been no shortage of market-meddling initiatives to soften their currencies.  And in the US, part of the White House drive to bring jobs home – how mercantilist can this be? – necessarily involves sanctioning a “more competitive” currency. Now we have central banks continuously priming the monetary pumps as well.  If we adhere to Bob Farrell’s Rule and then look at what that is going to mean with respect to the ratio of gold price to global currency in circulation, getting to $3,000 before the bull market in bullion busts is, in our opinion, quite easily attainable.”

Bron: Gluskin Sheff