Re: Spot gold blows through $1,200
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.
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.