Tocqueville's John Hathaway: Gold's breakout foretells big change in financial order

Section:

11:38a ET Saturday, July 13, 2019

Dear Friend of GATA and Gold:

Tocqueville gold fund manager John Hathaway latest investor letter, published this week, questions five points of what seems to be the convention wisdom about the world financial system and the gold mining industry. He asserts that gold's recent breakout is "a big deal" and "could be an early warning that the global financial order may be headed for significant change."

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Hathaway concludes: "During gold’s six years in the penalty box, the underlying forces that have made the metal a superior strategic investment over centuries have not been idle. The extrapolation of current conditions into unrealistic expectations is a dependable flaw of human nature. The capacity of physical gold and precious metals mining shares to absorb inflows has greatly diminished because of the prolonged attrition of investment interest. Once capital market flows revive, there is real potential in our opinion for parabolic upside in the metal and the shares."

Hathaway's letter is posted at Tocqueville's internet site here:

http://tocqueville.com/tocqueville-gold-strategy-second-quarter-2019-inv...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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