At a bottom now for gold? Message Board

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Gold/Mining/Energy : At a bottom now for gold?

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To: Bobby Yellin who wrote (410)	5/3/1997 11:05:00 PM
From: Bo Bob Brain	of 1911

My interpretation of Elliott Wave Theory is that the price of gold will not fall below $340 for a minimum of two years. I also expect gold to hit $410 - $415 sometime in 1997. Predicting the price of gold via Elliott Wave is more difficult than predicting the stock market. My charts call for a maximum Dow Jones peak of around 7100, with an eventual multi year ( if not decade long) decline eventually to around 1000. What could make the equity market go pop? I have no idea. The Nikkei was also considered invincible, but that average is still down considerably from its peak. As far as Bre-X goes, any amount over 50 million ounces wouldnt be mined within 50 years anyway, so much for depressing the price of gold long term. It is very depressing watching the price of gold go sideways to down for such a long time. But I am convinced that the governments of the world are doing their best to keep the price down. When any commodity is artificially manipulated, eventually the price must rise to its proper level. When the powers that be lose control over their market manipulation ( and some day they will), gold will skyrockret. Lets hope it happens in our lifetime.

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