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02:14 PM
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IS GOLD FINALLY GOING TO GET ITS FINAL WASHOUT I HOPE???
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[quote:Punk-A$$ets:MV8yNTU4MzI5XzQ2NTA1ODI0X0I4RjlGN0VE] [quote:Anonymous Coward 1310640:MV8yNTU4MzI5XzQ2NDg5ODIzXzk3Njc0NTky] FFS, do any of you REALLY think the PTB have any intent that anyone in the general public should be allowed to escape their clutches by riding the gold price up up and away? They have no intent on letting any of you get away. They believe in their cold little hearts that your gold that you bought from them is still theirs and they have no intent to leave you to profit from it. By any estimate in real life in times of massive stress and turmoil, not to mention real significant inflation gold should be sky high, but that would allow you potential financial independence which they cannot and will not ever allow for any length of time, and as time gets short they have to create a condition where they profit and the public falls further and further into unpayable debt to them. [/quote] [youtube]https://www.youtube.com/watch?v=03554wXVgdo[/youtube] [/quote]
Original Message
Any gold bugs left? I've been waiting in the wings for what seems like forever - waiting for this bear market in gold to get over and done with. With todays sell off we might be close to seeing new lows in gold.
Dont get me wrong, Im still looking for very high gold prices in the years to come but I still think we're going to see $1000 gold give or take 10%. $15 silver give or take 10%. I repeat, we have NEVER back tested the $1000 level in gold - yet.
There is an uncanny resemblance to the recent trade range in gold to the previous one. Broken link below.
finviz.com/futures_charts.ashx?t=GC&p=w1
Notice the $200 trade range between $1600 and $1800 lasted for more than a year before we got the washout. The current range of $1200 to $1400 is almost an exact copy for time and price range and with the breakdown today we should plunge once we break $1200 again. It would seem $1180 is as important now as $1530 was in the last flush.
If the current pattern holds, the final lows in gold wont come until later this year or very early next year.
Incidentally, Martin Armstrong has said Jan 2015 is an important turning point for gold and that gold would rally strongly after his next ECM change Oct 1st, 2015. In another writing he also said a low in gold in 2015/2016 would be perfect for a blistering rally in gold thereafter that takes it to new highs in 2017/2018.
Just touching base with any gold bugs that might be left. Hang in there. Our time is coming but patience is still required. Probably better to hold GLL or DUST for the time being. A monster trade in NUGT and JNUG is probably not too far off.
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