CLSA rekommenderar köp (fysiskt) guld

Alla tänkande varelser borde bli lite sugna på fysiskt guld av detta:

macro traders willing to leverage should use the current correction to buy gold by borrowing yen

It is also bizarre that gold should have cracked after the Bank of Japan has just committed to a far greater monetary base expansion, relative to the size of the Japanese economy, than any manoeuvre so far attempted by Bernanke

Rather than viewing this as confirmation of the end of the gold bull market, investors should see this as a massive buying opportunity while also being aware, based on the technicals, that gold could trade down to the US$1,200/oz level

For if hopes of normalisation in America have been driving the trade gold should now be less vulnerable as the trend in American data has clearly deteriorated in recent weeks; be it employment data, retail sales or the ISM series.