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Bullets, Beans


Tuesday, 27 December 2011

Gold At $2000: Coming Sooner Than You Think

The level of bearishness that has developed in the gold market is actually quite shocking. Many “experts” are claiming that the reason is due to the fact that gold has broken its 200 DMA, and many of them are now calling for moves as low as $1100 or $1200. Some are even saying that the bull market in gold may be over.

It was only several months ago, at the all-time high and just prior to the start of this larger corrective pattern in gold, that these same “experts” were calling for gold to move over $2,000 imminently. However, we saw how that turned out. Therefore, should we take these “expert” opinions as fact? I think not.

Today, this significant bearishness is potentially marking the bottom or near bottom of the gold market rather than the start of a larger bear market in the metal....more

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