Legendary Pierre Lassonde Weighs In On Gold Takedown

最緊要氣定神閑。

當初投資任何產品工具必要自己有適當認識，不是盲目跟隨。

近日黃金大跌，相比2011年九月高位，Marc Faber 説 Apple 自去年已下跌39％。

如文中所説，要是一個普通投資者，應該很擔心甚至恐慌，今天朋友説黃金一點用途都沒有，我深深感受到financial intelligence 的重要，黃金價格只是在調整中，泡沫？當身邊所有人都跑去盲搶金時，就是真正的出貨訊號。機會只是留比有準備的人。2/8定律錯不了。當各政府還在不停加印，日本、歐洲都將貨幣貶值，當人們對所有貨幣失去信心，黃金的價值自會突出。美國兩個州都開始接受黃金白銀作交易legal tender, 黃金價格突然調整只有少數原因。




source: Kingworldnews

On the heels of extraordinary turbulence in the gold market, today legendary Pierre Lassonde weighed in on the takedown in the gold market.  Lassonde also told King World News what to expect in the gold market going forward.  Lassonde is arguably the greatest company builder in the history of the mining sector.  He is past President of Newmont Mining, past Chairman of the World Gold Council and current Chairman of Franco Nevada.  

Lassonde is one of the wealthiest, most respected individuals in the gold world, and as always King World News would like to thank him for sharing his wisdom below with our global readers.  Below is what Lassonde had to say about the smash in the gold market:

Lassonde: “Well I think for the average investor it’s probably a very scary time.  Any correction of that magnitude, it shakes your belief.  As you know, Eric, for the past year I have been saying that gold will continue in a sideways market with a 10% to 20% possibility of a much bigger correction.

Obviously what we have experienced is the much bigger correction.  What we have seen is roughly a 30% correction, or about $600 off the highs.  Now, back in the 1970s we had a 50% correction when we had that mid-cycle correction.

This time around I don’t see a 50% correction.  I think what we are seeing right now is exhaustion....

“My feeling is that we are going to see a sharp recovery.  I suspect that because gold has broken down so fast and so sharp that we are going to get a V-shaped bounce rather than a U-shaped bounce.  

So the opportunities that you are seeing now, the gifts that are in the market, I don’t think you are going to see them for very long.  This will be very much like what happened in 2008.  In 2008 we saw one of my companies, New Gold, go down to $2 a share.  Well, it didn’t stay there for more than a week.  But those opportunities do come in the market and they are being served up to investors right now on a golden platter.”

Eric King:  “Pierre, it sounds like you are expecting a V-shaped recovery in gold just like the one we saw in 2008.  That was when gold plunged from over $1000 to the low $700s, and right back up to and eventually through $1,000?”

Lassonde:  “Eric, I ask you has anything changed today from a month ago?  Has the Fed stopped printing $85 billion a month?  Have the Japanese not started printing $120 billion each month?  Hasn’t the Bank of England hired a new central banker that’s as keen to print money as Bernanke?  Isn’t Europe still in trouble?

So at the end of the day what’s happening is the Japanese are trying to devalue their currency.  The Europeans are also trying desperately to devalue their currency.  Do you think the US will stand by and let the dollar keep going up?  No.  The US will keep depreciating its own currency.

What is the US depreciating against at the end of the day?  There is only one currency you can’t depreciate, it’s gold.  We have seen this type of market volatility in the past.  Yes there are very scary moments, and yes for the average investor they can be gut-wrenching, but as I said earlier, for people who have put some cash aside you are looking at opportunities being served to you on a golden platter.”

This is what I like about the great ones like Lassonde, they never panic.