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Panic retail selling in gold and silver signals 'major bottom,' Haynes tells KWN
9:10p ET Wednesday, July 19, 2017
Dear Friend of GATA and Gold:
Bill Haynes, founder of CMI Gold and Silver in Phoenix, tells King World News today that retail sentiment in his monetary metals business is worse than it has been in years and has prompted panic selling. Haynes construes this as "a classic sign of a major bottom."
Monetary metals investors may hope that Haynes is right, but if, as GATA is inclined to believe, central banks and governments remain the primary traders in the metals markets and theirs is the only sentiment that matters, somebody should try to interview them. Of course they're not likely to comment on or even acknowledge their surreptitious trading, but even a refusal to respond might prompt some useful suspicion.
Haynes' comments are excerpted at KWN here;
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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