Omg, late 2015 till the prison door finally creaks open? If the original pattern from the 70s would hold, here is what it will look like: "First we get a rebound, back towards $1,400, before turning down, and maybe set a slightly lower low before forming a base around $1,150-$1,200. Then comes the final capitulation in late 2015, which will send Gold towards $1,000. "Martin Armstrong ............ says that Gold will likely go much higher, probably towards $5,000+ (and I also remember him quoting $12,000 once?), but not before 2015" http://www.24hgold.com/english/news...20&redirect=false&contributor=Willem+Weytjens
There's no real data to support a claim that the pattern must repeat....plenty has changed in the past 40 years.
More chart expansion/compression going on to get the fit? Very roughly, 1970-1975 or 5 years stretched to fit 2001-2011 or 10 years. So first bull stage about twice as long this time compared to 70s Major correction back then in 70s was less than 2 years, current correction being projected by writer late 2011- late 2015 = 4 years So correction this time to be bit more than twice as long as 70s in his prediction
Oh dear, another overlay. Sorry finicky, there is no way anyone would believe this could come true. Apparently it is foolish, like plucking a guitar string, or looking at virgin mary on a piece of toast... or something like that? http://forums.silverstackers.com/topic-20746-argument-that-the-silver-bubble-has-burst-page-1.html Oh, wait a minute! This overlay has bullish undertones..... ignore my previous rambling, it must be OK.
IMHO, a "head and shoulders" last year does not mean a "head and shoulders" NEXT year! Or a left elbow or a right foot! I prefer chickens entrails myself, MUCH more reliable. OC
Welcome back Finicky - glad to see you didn't leave completely. IMHO Both overlays are useless - you can make just about any 2 charts fit each other if you tweak the dimensions long enough. But then what do I know The bearish overlay was right for the past 6 months and says silver is going down to $6 This overlay says gold will skyrocket to $10,000 after dropping to $1000 Place your bets... take your chances...
I wonder what 12,000 $ will buy you after 2015. Interest rates won't rise before 2015. So there might be some inflation preparation ahead... They might inflate the US dollar or simply admit the real inflation caused by the QE rounds so far. I wonder how much real US inflation is... I wouldn't like to find out the a Snickers bar will sell for 12,500 $: "Ooops, 500 $ more than an ounce of gold. Sorry, can't afford it!"
Yes it has bllish undertones but that chart shows that is going to go nowhere for the next 10-15 years basically sideways that is what I believe will happen so I like this chart
The single thing I take solace in, and I saw the doldrums after the 70's bull run, is that the people who called the start of this bull run are unanimous in saying it is pausing before continuing. I'm also heartened by people like Rogers and Soros buying, and also a couple of billion Chinese and Indians.
Plus the fact the Yanks are diluting the worlds reserve currency by 80+ billion a month and the Japanese are following suit.
Armstrong could be very right here, he often is. As I have posted elsewhere he and Nenner both correctly predicting a low in June. Nenner went so far as to say high 11's. Spot on. If interest rates move decidedly upward in late 2015 and Armstrong makes a very good argument here. this off course will affect the Gold price to the negative. Although when the Bond market realizes that the American economy cannot absorb the huge interest payments, will panic and rush into the arms of Gold. Where we are headed is very scary indeed. I don't trust the fiends that run this world, gold could be made illegal to be held by private individuals. If Gold did head for $10,000+, governments all over the world would find it too tempting not to confiscate.
"If Gold did head for $10,000+, governments all over the world would find it too tempting not to confiscate." They will have to do it BEFORE it hits that price, as Section 51(xxxi) of the OZ Constitution says they can only confiscate "on just terms". This has been tested in the High Court many times, and it has always been upheld. Same in the USA. OC
As Stackers we ALL put plenty of time in to study all the theories, conspiracies, facts, and history surrounding pm's...... I think we ALL need to remember that pms have been in a bull run since the end of the Glass Steigal act and the lows we are seeing at the moment are just a SMALL correction...... Check out the charts its so obvious........There is NO DOUBT in my mind that once the The Fed decide what they're going to do with QE3 we WILL start seeing pms rise again against mountains of money printing that's been going on for nearly 40 years and massive USD devaluation...... Yes its been a looooong slow process, but EVENTUALLY stackers are going to be waaaaay ahead just like central banks, China, Russia, India, Germany, Rogers, Soro's and all the rest of us that REALLY know whats going on out there..... No wonder they don't teach economics in Primary schools everyone would be rich!
I see the headline article on profitimes.com that Gold targeting $978. How do I read the full article? I have sign up and log in but still I can read that article.
There's one prediction I can make with absolute certainty. No one will regret making plans to opt out of fiat currency as much as possible in favor of a tangible asset.
