This Will Send Massive Shock Waves Through The Gold Market

"“I believe the bottom is in with regards to gold.  It also looks like gold is turning around very, very tentatively.  This is taking place as the U.S. stock market appears to be rolling over.  As money exits the stock market it will look for safe havens and that should include the gold market.

We are now heading into the holiday season in India and that should also help to put a floor under the gold market.  Gold has made a very large base over a lengthy period of time.  We also know that at current prices most of the producers can’t make any money.  These companies have already been high-grading their deposits so they can stay in business and you can only do that for so long.  The chorus of bearish calls on the gold market is also an indication to me that gold is about to head higher.

Eric, I would also like to add that I am a staunch support of the Swiss Gold Initiative.  This initiative will cause the repatriation of Switzerland’s gold.  This will also cause a 20 percent gold backing of the Swiss franc as well as halting any future Swiss gold sales.  This vote is coming up in the Swiss referendum on November 30.  The entire adult population of Switzerland will be voting on this historic Swiss Gold Initiative.

This is an incredibly important event for Switzerland and for the world.  It also has the potential to send major shock waves through the gold market because if it passes Switzerland will have to acquire over 1,500 tons of physical gold.  I strongly believe it will be incredibly difficult to find that much physical gold anywhere near current prices.

The key here is that if this passes, it is law.  They can’t do a runaround like they can in other Western countries.  Meaning, when the Swiss citizens pass this historic initiative it becomes law and it can’t be circumvented.  As we approach the date of that vote, it has become very evident that the Swiss National Bank is getting extremely vocal in terms of opposing the Swiss Gold Initiative.  The Swiss National Bank claims the Swiss franc should not be shackled to the price of gold..."

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/10/13_This_Will_Send_Massive_Shock_Waves_Through_The_Gold_Market.html