Tuesday 2nd July 2013
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Ever since Goldman Sachs (GS) issued a sell recommendation at $1,500, gold has been dropping like a rock.
On top of that, a lack of inflation and the sluggish world economy has upended, at least for now, the bull market in precious and industrial metals.
Several prominent technical analysts are now warning that if gold breaks the $1,125 support level, the crowd (what’s left of it) will run for the door.
I won’t be following them.
Predictions that gold will fall back to its 1980 high make me very happy. That’s because I know where the yellow metal is really heading, and I’ll give you that exact number in just a moment … and how you can arrive at this very same figure yourself …
Gold Setting Up for a Quick
Bounce … Shorts Beware!
I’m bullish on gold in long term. In fact, I think the market will eventually become red-hot.
Unlike many gold analysts, I think gold is heading much higher because its supply-side balance is about to suffer a MASSIVE SHOCK thanks to international speculators.
I’m not talking about individuals moving the markets. I’m referring to big speculators -- literally hundreds of millions dollars in shorts from Asia and Europe, coming from exchanges around the world.
Traders and market experts see what’s going on, and it’s worthwhile to watch the near-term action … and reaction. Just last week on Yahoo! Finance we learned that ...more
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