Was watching Jim Sinclair and Bill Holt prognosticating on the future of PM's this morning. As is often the danger of Prognosticating, they have fallen into the trap of thinking that what they see in the future is just about to happen. That's why so many of us 'Seers' wind up predicting eminent collapse that is just about to happen, when the actual event is actually a decade off.
I do think PM's, Gold included, will eventually go to the moon. As drawn on the chart above, Gold needs to complete the Bear Market it's in before it rallies to all time highs. I personally think the Jim Rogers of the world will see $1000 dollar gold before Bill Holt sees his new all time highs. It looks like we'll see at least $1350 first though, as we complete this Primary B wave before prices drop in the deflationary C wave to follow. Because Gold is priced in dollars, we must keep in mind that the Dollar is still the cleanest, dirty shirt in the clothes pile...
I do think PM's, Gold included, will eventually go to the moon. As drawn on the chart above, Gold needs to complete the Bear Market it's in before it rallies to all time highs. I personally think the Jim Rogers of the world will see $1000 dollar gold before Bill Holt sees his new all time highs. It looks like we'll see at least $1350 first though, as we complete this Primary B wave before prices drop in the deflationary C wave to follow. Because Gold is priced in dollars, we must keep in mind that the Dollar is still the cleanest, dirty shirt in the clothes pile...
