Gold price movement strictly from the technical standpoint of Avi Gilburt
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If gold is going to $750(Avi) and silver to $8-9(Rick) why on earth would you want to buy physical or invest in a mine??
Also if both metals go to these technical targets the damage is going to be so severe that a lot of mines would have to close.
I think this is iteresting. I wonder if the US dolalr will got up a lot more or not.
The metals have taken it on the chins for 3 yeats with hardly any action in the US dollar anyway.
These $750 gold and $8.50 silver targets are near to the 2008 lows. This is what I reckon would be the best washout of those markets. It would also put gold below its 2008 high of $1030 – oil has never surpseed its 2008 high of $147.
I don’t know if it will be straiightaay though. It could take ages and more moves up and down to get there – another couple of years or more? That could possibly coincide with a dollar bull market going to completion. Once the dollar tops, then perhaps a new gold and silver bull market can begin. Perhaps a new peak in US oil and gas production might make the dollar top and go into a downtrend.
meanwhile, we are undoing 44 years of Peak Oil and 44 years of bull markets in gold.
Appreciate your views Avi, great stuff.
Cheers.
Thank you Avi! I appreciate your level headed approach. Looking at the GLD a return to the 75 region equates to prices back in 2008 when gold was last selling at a low of 750 so that would be one hell of a drop. Anything is possible though. Once we break down through this major floor there is plenty of dead air space and not a whole lot of support below.
Meanwhile, DUST is up 73% this month alone! Hooray! Bombs Away, man!