Gold is on a cusp of a parabolic move

While technical analysis increasingly cited as a fear inducing tool, it ignores the fundamentals that have been driving up gold since the mid $200's. John Embry reminds us that excessive debt and consumption, and waning confidence in the custodians of fiat currency to protect its value over time is driving the price of gold higher.

The increasing debt load accumulated by governments all over the world will never actually be repaid. However, because of their power to tax and create money at will (something history has shown us repeated), it was also assumed that the debt would always be serviced. The fact that the money with which it is being service seldom, if ever, retains the purchasing power of the original debt trends to be conveniently ignored.

Source: sprott.com