Where is Gold Going?
Back in 1980 Gold hit high mid-day at $850.00 an ounce. In today's dollars, that's $2,175.00... per ounce.
"2175 bucks!" you say. "2 1 7 5" says I. Then of course you scoff as you remember that you're talkin' to Nate.... who just happens to be crazier than a shithouse loon.
But look at the charts! Look!
We've got a great little pattern going here... natural fluxuation... ups and downs... but what we see is higher highs, and higher lows. Two steps forward, one step back. We're goin' somewhere folks. We know this bull-market is for real. That was proven back in January. If you look at the corrections, the last two lows were actually right at, or just above previous highs. That's serious people.
One tried and true rule of investing is, if's hit a price once, it will hit it again some day. We're gonna see gold break 2000 bucks an ounce.. It's going to happen. You can expect a steep correction at 850, as that number represents the uninflated 30-year high... but it the march will continue, and I suspect once 850 goes down the second time, it will pick up big time. If you haven't bought in before then, that's the time.
Gold is gonna roll on to the 2000 mark. After that all bets are off. But I'm not gonna ride it out much past it. I may even sell off at just short of $2000. It will peak sometime shortly there after... probably somewhere not to far north of $2175. After that it will drop like a rock, followed by a dead-cat bounce up to about $1,000... then it will begin the slide into slumpdom.
That's where we are people. I've made it as clear as I can. If you don't make a killing on this, don't blame me. People complain because no one gives them specific advice. Well... it don't get more specific than this: Buy Gold. BUY GOLD. Hold it until it hits 2000, then start considering selling. Don't bother selling off and re-buying on each and every correction. Who has time for that crap? Just hold it for the big one. I may consider selling at 850, just because I'm so confident there will be a big correction there.... but I also may be out on the boat sippin' bourbon and watchin' the pretty blonde girl play.
Anyway... You're Welcome.