Z sez: gold's now in a permanent ascent pattern? I think it is too early to say, Z. I am of the opinion that these most unusual events and the follow-up terror attacks that--at least in my mind-- are inevitable to follow are the very unusual type event that could trigger a sustainable gold rally over a several year period of time.
Let me put it this way, when the campaign to demonize and demonetize gold as the result of Bretton Woods Currency Accord that I've talked about here and elsewhere for the last 7 years, nobody rang a PUBLICALLY AUDIBLE bell and declared the price of gold was on a rollercoaster ride to the $250ish level. About 8 years ago or so, Elliott waver, Robert Prechter was a lone voice about gold going to $250ish level, and I never heard why, and have always wondered how he knew. I still wonder how he knew, but never forgot his prescient call.
So, by the same token, no one is going to ring a bell at the bottom and say the descent is over and the ascent has begun. However, I haven't heard what Prechter's calling for now<grin>
So, all told, I believe it is possible, but I haven't heard any bell ringing to say it's going to go up now.
Sorry if this isn't what you wanted to know, but that is my honest opinion.
gold_tutor |
