Gold is up 11 days straight. Gold Anti-Trust Action Committee Chairman Bill Murphy says as excitement in the gold space increases, the Gold Cartel may lose control of the price!
Murphy explains the Gold Cartel manages the price by washing out the speculators. If gold breaks through $1,380 and silver through $21, the cartel may lose control.
Murphy says, “If silver can break through the 21 area, it’s going to mean a total lack of this maniacal control this Gold Cartel is trying to keep on the silver market. And once they lose this control, I think we could see some upside action somewhat similar to what we saw in the cryptocurrencies.”
Some of the mining stocks as well could have returns similar to the cryptocurrencies, Murphy says.
With gold up 11 days straight, Murphy sees the potential for a short term correction. But stay tuned for cryptocurrency style upsides he says.
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