Gold’s bull market not over by a long shot!
Source: http://blogs.moneyandmarkets.com/blog/real-wealth/0/0/golds-bull-market-not-over-by-a-long-shotPosted on Wednesday, August 13th, 2008 | In Asia, Current Market News, Market Commentary
Contributed by: Larry Edelson (http://blogs.moneyandmarkets.com/blog/real-wealth) -
Since July 31, gold has fallen hard ― by more than $100 an ounce. But don’t be fooled by this move down. As I’ve said many times before, gold’s bull market is far from over. If you look at the big picture, you’ll see the larger trend that’s very bullish for the yellow metal.
In fact, this short-term downside move may well be coming to an end. As I expected, gold has broken the $850 level and has come within a few dollars of major support at the $800 price point.
It should bottom here, or possibly a tad lower at just under $800. Either way, the bulk of the pullback appears over. The dollar’s recent rally, likewise, is nearly over.
Last 5 posts by Larry Edelson
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- Dollar’s fall last week is exactly what I’ve been warning about! - December 15th, 2008
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 About Larry Edelson (http://blogs.moneyandmarkets.com/blog/real-wealth)
With nearly three decades of experience in precious metals and natural resources markets, Larry Edelson has played a pivotal role in training Weiss Research staff and in guiding Weiss Research’s customers to prudent investments in the sector. His Real Wealth Report, Gold Trader Hotline and Energy Options Alert provide a continuing education on natural resource investments, with recommendations aiming for both profit and risk management. His team of technical analysts helps enhance the timing of investment recommendations with the aim of continually improving the performance results for investors. Mr. Edelson is also a regular contributor to the daily e-letter, Money and Markets. Recognized as an expert in precious metals and natural resources, he is often called upon by the media for his investing views. Mr. Edelson has been featured on Bloomberg, Reuters, and CNBC as well as The New York Times, New York Sun, and Marketwatch.com Mr. Edelson holds a B.A. degree from Columbia University. |
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