Gold gave a Sell signal on Friday 09 December at $1725......I'm looking for a pullback into the $1450-$1500 region, before the next move up. Buyers will look to move in on any move down to $1500. A 32% pullback similar to 2008, gives a target price of $1310 for long term Buyers. If we repeat the sell off seen in the 70s, Gold could fall to $1040 by summer of 2013.
Back in the last Gold BULL market in the 70s, Gold peaked at $195 in Dec 74 having risen 5.5x from $35 in 1970, only to fall back 46% to $104 over the next 18 months. From August 1976 Gold rose 8x to $850 in Jan 1980.
Note : I am in GOLD for the Long term until at least 2014 with a target price of $6,000 as well as a Dow 6000 and FTSE 3000
Back in the last Gold BULL market in the 70s, Gold peaked at $195 in Dec 74 having risen 5.5x from $35 in 1970, only to fall back 46% to $104 over the next 18 months. From August 1976 Gold rose 8x to $850 in Jan 1980.
Note : I am in GOLD for the Long term until at least 2014 with a target price of $6,000 as well as a Dow 6000 and FTSE 3000
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