Not long ago,
in the article entitled, “The Final Run in Gold,” I outlined a sequence of specific
events that called for an imminent correction in Gold. Contrary to this viewpoint,
the pervasive narrative among analysts at that time was forecasting the metal
price to reach as high as $2,000 an ounce. Of course, this expectation never
came into fruition, nor was it rational enough to give any credence either.
For those of
you who are owed back the explosive rally in September NOW get a second chance.
Prices are in their final days of this current decline, and will present buyers
with one extraordinary opportunity. My target between 1850 and 1900 I see can
be realized in the coming 4-6 weeks, likely leading into mid December. All it
will take is a one day stroke higher of 20 to 25 points that initiates the
reversal, and which generates an avalanche of buy orders thereafter.
As you all
know, psychology in the commodity markets is driven by the element of FEAR, but
this time it will be BULLISH PANIC. The truth of the matter is that Gold is in a
roaring new bull market. And these hyper-sold conditions trap investors because
they are emotionally forced to sell their positions at the very wrong time.
Bottom fishing to this degree where valuations are extremely suppressed is not
an occasion that comes very often.
The canvas
below you will see I’ve ‘inked’ with my long expectation of the price action in
the yellow metal. Don’t get left behind as the train is not far from leaving
the station.
The CC
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Darah
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