I was reading a report tonight and came across that the plunge in April-June in Gold was worst than the 1st quarter of 1982. After that 1982 plunge in Gold, in mid August to 1st week of September gold SKYROCKETED 50% in 3 weeks. Let's see if the same thing happens this based on history.
Looking at all reports, everybody claims that gold inventories are at extreme low levels, so this should bode well for the Gold market and gold miners. They are claiming that China alone will buy all the supply in Gold worldwide them (China) alone.
What is the boards thoughts on this. Is Gold a coiled spring ready to rebound?
I want to believe that gold along with the miners will start trending higher going into the fall but in these manipulated markets who really knows what to expect? I still think gold gets back near $1500 by December but I would not be totally shocked if they take it down under $1200 again. As long as stocks are making everyone so much money there is little interest in gold and even less interest in the miners.