Currently several newsletters are pointing to the prospects of a fall in the gold price to $850 during this summer. They then say that later in the year, after September the gold price will rise to $1,200 Some say it will rise now to $1,000 first then tumble back to $850 before rising to $1,200 later in the year. If it does pull back to $850 prior to a rise to $1,200, then it is clearly an excellent trading opportunity for even long-term investors, with a potential 50% trading profit!
But others say that it will not pull back, that it has built a firm base after a long period of consolidation in the last months. If it doesn’t pull back to $850 or lower then those who exit the market now will miss a rise to $1,200 and pay the price to get back in, or will they? It’s time for a close examination of the potential rise and or fall.
Over the next 10 years, you will make so much in gold that it does not matter what price you buy at now. Gold is essentially the best bet you can make AGAINST the US government policy of "debt is the solution to everything". Short Treasuries and buy gold - like shooting fish in a barrel.
In reviewing the highs and lows of gold over the past ten years it is remarkable that lows occurred 8/10 in summer and 8/10 highs in fall with 3/10 both summer and fall highs. Unless one is day trading, these are not great odds for selling gold now. Bob