Watch the full 22-minute video at http://www.goldmoney.com/stoeferle-turk-vienna. Ronald-Peter Stöferle, Analyst at Erste Bank, and James Turk, Director of the GoldMoney Foundation, talk about the gold price correction in September. Ronald explains that it was a normal, healthy correction within the bull market. He explains that negative sentiment is a good indicator that we are far from a mania or bubble. The parabolic move to over 1900$ in August was too fast too soon. October’s negative seasonality will mean a consolidation and then another leg up in the present and continuing uptrend. Considering fundamentals, Ronald asks whether real interest rates have turned positive or structural debt problems have been solved… in the absence of such a development the positive fundamentals are well in place for gold. They talk about Chinese and Indian demand. Gold is increasingly seen as money and less as a commodity, which is how it was seen in the first stage of the bull market. The lack of counterparty risk is an important quality of gold, which gives it an advantage over the euro and the dollar. Fiat currencies, backed by nothing, will eventually lose all trust.<br /><br />This interview was recorded on October 1st 2011 in Vienna.
