Ronan Manly: Gold's upward drivers haven't changed at all

Section:

10:34a ET Wednesday, August 12, 2020

Dear Friend of GATA and Gold:

Elaborating on his recent interview with a Vietnamese news agency, Bullion Star gold analyst Ronan Manly writes today that all the longstanding upward drivers of the gold price remain in operation.

Manly concludes: "Confidence in paper assets (including paper gold products) is falling. Indeed, with the gold price back at the price range where it was just over two weeks ago, you could say it's deja vu all over again. The only difference this time around is that we have seen the volatile swings the gold price is capable of, both up and down, as new support and resistance are mapped out. Increasingly, hundred-dollar moves will become common as gold goes higher. This is something James Sinclair predicted at least 12 years ago."

Manly's analysis is headlined "The Sustainability of This Gold Bull Market Compared to 2011" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/the-sustainability-of-the-...

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


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