$2000 Gold This is a technical call by me at this point, but gold looks like it's now building a base ready to break through the resistance at about $1640. The 200 day is right around there and it looks like it's going to break through before September hits. If that is the case, it will confirm a continuation of the bull market after a ~20% correction. Once that happens it will take no time to get to $1700 as everyone piles back in.
Apparently George Soros has accumulated a lot of gold so far this year after he stated not too long ago that gold was in a huge bubble. The good ole bash and accumulate. John Paulson is also accumulating.
We are on the cusp of one of the biggest gold junior buying sprees to date. Record low level valuations for juniors and seniors out there looking to take advantage and take in assets while things are on the cheap. You also have juniors who are now cash stricken and more eager to deal.
Galway will be one of the many who won't be around this time next year. Who knows about timing, but if the regulators are alowing this to go on this long that must tell you something. We will bust through a buck here shortly.