RoBTV: Peter Grandich on GoldPeter Grandich, editor and publisher, The Grandich Letter
On Gold:
only twice since I have been a gold bull in 2003 have I made major forecasts, last time in May 2005 when gold reached $730, put out a short-term sell signal..based on everything that happened, we are looking at last great buying opportunity in this gold bull market before we get to new high next year..all the conditions are being met..we are washing out at much higher level..all that has influenced gold have sold off hard..oil was $75 the last time gold was down to $600, now $55, copper was $4, now $2.50..these are things that have held keep lid on it
On Gold Target
I think the next $100 move is up, I think people will be quite surprised how fast it will get there..would not surprise me to see $700 this quarter..bull trap in dollar and bearish trap for those in the gold market today..thinking about today what to sell to get more gold..
On Heavy Correction
Wednesday we traded up to key resistance just below $645..oil and copper selling off was too much pressure..traders began to short gold..more pressure on oil..every private reporting group economists notes clearly that economy slowing and employement is slowing..numbers today are farce, allowed dollar to rally somewhat and take gas out of gold..no worries
continued @ https://robtvgold.blogspot.com/