Gold ($1,225) Bottom In Sight
I believe “the” bottom in gold is within 48 hours or so!
To anyone still favoring gold you may feel as I do; totally beaten up, defeated and like 12 years went out the window. Congratulations!!!
The parties who were behind what will go down in history as one of the greatest take downs of any market that began in earnest back in April, have pretty much now achieved everything they wanted. Gold and silver are bruised, battered and in shambles. One either feels its a loss cause and/or will not see the highs of 2011 again in their lifetime. The bandwagon calling gold dead, a relic and never to shine again is overloaded and busting at the seams (even though most on that bandwagon missed most if not all the ride up and will miss the next leg as well).
As much as all the members of the “Don’t Worry, Be Happy” crowd that litters the offices of the financial services industry and much of the spineless, gutless financial journalists who are lapdogs to the Talking Heads that lead the “happy” crowd around by their noses would like you now to believe (that the useless, non-interest paying relic known as gold is down and out), it is not over for gold. Most of the reasons to own it remain and thanks to what has happened (starting with the take down) have given new reasons to own gold.
Reasoning at this moment is basically useless as emotions of fear are fully entrenched. But in this dark, spinning out of control moment, I’m going to leave you with a movie clip and hopefully like me, there’s no surrender in your belly and as hard as it will be – join me and get back in this war.
Source: http://www.grandich.com/2013/06/gold-1225-bottom-in-sight/
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