Re: Spot gold blows through $1,200

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  • Tue, Dec 08, 2009 - 09:10pm

    #34
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Spot gold blows through $1,200

[quote=Morpheus]

I suspect gold to be at  $1,130 or before New Year’s. Silver? My big toe tells me $16.85 or so. 

In fact, I anticipate a short-term blowoff in both Ag and Au before they resume their climbs. 

It’s running too high, too early in the process. In this environment I believe a sharp correction is in order. 

I hope so. I’ll buy more of both if they do. 

[/quote]

Prophetic.

Honestly folks, I am not at all surprised. They (Ag and Au) were headed North at way too rapid a slope, way too early in the game.

The correction is healthy. When confirmation of a bottom hits it’ll be my entry point. Very nice. The stuff was getting a wee bit pricey for the amount of “scraps” that I take home every week.