I went to buy physical gold today but found out to my surprise that they were out of gold bullion. The only amount I could buy was the 3 grams of gold bullion and that was it. Asians have had the reputations of loving the gold metal to protect their savings against inflation for a long time now. I came too late. Now everybody is anticipating the price of gold at $2,000 an ounce when it just dropped the past few days to below $1,350 after reaching its all-time high $1,421 last week.
Yup Asians don’t get scared too easily. The past few days, gold price declined and held near $1,340 an ounce last Wednesday, following a $32 slide within only a few hours. While the world may have thought that the gold bubble has burst, Asians are cheering to see a huge decrease in gold price and rush to buy even more. Today I even saw a few westerners queuing to buy physical gold which is a new sight!
The price of gold was as low as $1,334 an ounce before it bounced back nicely on Thursday to $1,358 an ounce. Before it bounced back to this level, Gerald Celente had sent out a tweet to his 4,120 Twitter followers, warning them, “Gold, trading @ $1349, has rebounded nicely. If it closes over $1356 it could begin to test its $1421 high. EU crisis could spark rally.”
When I went to buy physical gold today, the yellow metal already traded at $1358 an ounce although it slightly went down to $1353 later on. This is when I received Gerald Celente’s tweet on my cellphone, saying, “Gold’s @ $1353. Not bad after slide from above $1420. Remember White Shoe Boyz Roubini said gold lucky to hit $1,100. GC (Gerald Celente) forecasts [gold will reach] $2,000++.”
As gold hit $1,358, Celente predicted that the EU crisis is about to spark rally. In Russia Today, Celente said, “This is the beginning of the end of the euro.” He adds, “You cannot have a currency that’s going to cover all the bases of all economies equally. He argues that we may see Portugal, Spain and Greece opt out of the euro.
Watch Gerald Celente on Russia Today below:
