Loading ...Where Might Gold Be Headed
I finished a draft of my timing and price target for silver in which I said I didn’t have any specific gold target in mind. I went back to the gold chart and noticed that from gold’s bottom in March to it’s high in August it was basically up $640 rounded off. Notice the correction has been about 50% or $320, from the August high to the November low. Although I expect another smackdown for gold and silver between tonight and as late as early Wed. morning, I have been adamant that gold and silver are not going below their Nov. 30th lows. If we use that $320 figure as a possible target for the advance above the old high, I would say $2400 gold is a reasonable goal. Since gold would be in all time high territory once $2100 is breached, it really could go anywhere from there but $2400 is nice symmetry for an initial target. 
Thanks CM
Looking for some Hope here
CM — you mentioned a week or so ago that your charts were suggesting this coming Tuesday (26th) as the turning point for PM’s to bottom and head higher. I believe you were referring to stock prices as well. Has anything changed in the interim that alters this opinion? Do you anticipate a rapid or slow adjustment?
To clarify, I said Tues. should be a bottom,but I didn’t see the upside really materialize before the end of the first week of Feb. Will be releasing my post on silver tomorrow with more specifics.