gold deadcat bounce is officially finished.....60 cent price target for gold
...and, as per the bear market in which it trades, ALL of gold's gains this year will be ERASED completely soon.
Just gets worse and worse for gold/silver dupes.....and if 60 cents seems to be a radical or preposterous price projection, then one must consider the massive RELATIVE overvaluation of gold to the rest of its dying sector......and then you will recognize that this mega bubble must pop dramatically at any moment.
Never underestimate the power of the mass.
Charts show gold price formed cup and handle pattern about 6 months ago and sure enough, it took off.
We may see a short term pullback due to profit taking, but don't forget that the second half of the year is usually when many Chinese buy gold in preparation for the new year celebration.
Gold may not go to all time high again soon, but it won't drop to $1000 an ounce, unless the whole Chinese ecenomy takes a big hit.
There is no way a big hit can happen because if it did not tank when 5 years ago when the US market was tanking like a rock, why would it tank now when we are recevering?
Buy NUGT and get rich