Burkina Faso plans to withdraw some mining permits, junta leader says
Gold is the main export of the West African country.
“I will put a sell date of 8 to 12 months on this (gold) bull market,” says Jon Nadler from Kitco. “Corrections of $100 at a time should come as no surprise to anyone.”
Jon Nadler was interviewed on Wednesday by Bloomberg’s Tom Keene.
Nadler has been bearish on gold for a while. He admits that gold has run higher than he anticipated.
“Reversion to the mean is alive and well and gold has the most to lose.”
The signals Nadler is looking for to start the downturn is the end to central banks’ policy of accommodation, and ETF and hedge funds turning away from gold.
