People who made a fortune in trading gold estimate that gold will ultimately reach a 5 figure price in the coming 5 years. I suspect that they expect gold to equal the DOW in price (which is now near 18,000). This happened twice: once in the thirties when gold hit around 37 and another times in the seventies when gold hit 800.
What about the next leg of gold? My gold miners stocks are hitting the 50 Day Moving Average so an upturn is near. Where? One expert estimates this to occur between $1,200 and $1,175.
How high will the next leg take us? $1,400 is the estimate.
Saturday, May 28, 2016
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