^ FYI I havent bought any gold for 3 reasons. 1. I think if gold went closer to USD $1,100 then psychologically $1,000 would loom and the price could quickly go there where I might get interesting is accumulating. 2. The drop in the AUD by 10% means that although gold has dropped in USD terms, in $A it remains around a $A1,350 level which isnt such a great deal from the $1,600 where in had been for months on end. ie. $250/$1,600 = 15.6% drop in the gold price in AUD terms compared with 25% drop in USD terms. 3. I wouldnt expect to see any strength in gold until later in the US summer. The odds are that asset prices tend to sell off during the US summer and only bottom out or strengthen after August.
My estimate for the next possible gold bottom is in the 1,000 - 1,200 $ range. May bottom in the 1,150's, considering the Fibonacci levels.
I am waiting 3 weeks like Sanchez....if I see the gold at 1030 before then....I am all in...Armstrong indicates a 3 day rally so we will see what the end of next week brings
Yes he does and then further resumption on the decline. Larry Edelson says that just over 1K should be the bottom.
