GFMS Ltd.: Gold Bull Run Over

In an incredible statement, consultancy firm GFMS Ltd. announced in a press release that the gold bull run was over, and it'll probably play out over the next year or so.

Of course that's cowardly in itself, as they give themselves enormous wiggle room if gold keeps on going up in price to say it's taking some time to wind down.

In the press release, GFMS chairman chairman Philip Klapwijk said this, "We're certainly in the end-game now, although that could still take a year or more to play out. But after that, it's difficult to see how we can avoid a hefty drop in prices if we want to boost jewelry and trim scrap to bring the overall market back into equilibrium."

So the trillions in paper money printed around the world, increasing inflation and place of safety aren't factors any longer in the price movement of gold? That can't even be taken seriously.

Now that doesn't mean there won't be a correction, as there is always that as part of any commodity or investment that rises quickly. But to announce the gold bull run is over is the height of ignorance to me, and must have been thrown out there to garner attention rather than to be taken seriously.

But when the gold bull run continues, people need to remember it was GFMS that said it was over, and determine from there if they want any other input from the company.