Leeb – Sense of Desperation, But Gold Ready to Stampede
With gold, silver, oil and stocks all moving higher to start 2012, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. KWN wanted to get his take on where gold and silver are headed and also his thoughts on increasing crime. When asked about the recent strength in gold, Leeb responded, “Yeah, Eric, this is a big break from last year. Gold has shown, through the last ten or twelve years, that it’s in an uptrend regardless of what happens. But, at least toward the end of last year, there was an inverse relationship between the dollar and gold. The dollar up, gold down big. The dollar down, gold up a little. That’s really changed in the first three trading days of 2012.”
Stephen Leeb continues:
“The year started with the dollar down the first day and gold had a very big up-move. The last two days the euro has been clobbered and the dollar has been very strong and (yet) gold has continued to rise. That, to me, is a very, very good sign. Historically, when gold breaks away from other things, when it starts acting on its own, that tends to be a very positive sign.