There is quite a bit of exuberance in the gold market right now, which is, however, short term in nature, so we could see some selling at any time. This selling could carry on for 50-60 gold points, although I do expect it should stop at 330. Then there will be safe times again, for gold, and that scary dip should be bought. Then again, we may see it rise above 400, like Bob was predicting, on war whatever, and the scary dip would come later. Scary times for gold longs, right now, due to commercials shorts, seasonality, great lack of physical demand., and increasing supply (according to Bob's web site). Technicals suggest we visit 400 first, but you never know. The nasdaq war rally may start today, and gold will drop.
I don't have any doubt that gold will be above 400 by the end of the year. |
