GREY:OLEPF - Post by User
Post by
frankmanon Apr 13, 2013 12:25am
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Post# 21250065
re Gold Plunges to Lowest Since July 2011
re Gold Plunges to Lowest Since July 2011 No I did not expect gold to fold below 1500, however as the markets continue to sour I have been saying this for well over a year I posted a HUNDRED times as the junior markets has been sliding since 2011. I consider any stock a junior when it has zero production, zero production revenue. My quote for over a year:
"All asset classes including gold and gold stocks will be sold down to cover margin calls and other market losses"
I did expect gold to hold 1500 to 1600 for the next 6 months but market pessimism is so bad this year STILL with Europe as the key I have repeated many times gold's next support is $1,470. During the death of summer buy producers and avoid explorers like the plague. M&A (hope and prayer) may occur for a few but it will be fire sale price. IGNORE price targets. I repeat IGNORE price targets especially from firms with vested interest or are being compensated. Institutions manipulate stocks too.