Gold has been heading toward last months low and should test it as suggested in early May. The current target according to the DPO estimate is 1325-1330 by or before May 28. Time will tell, but that is the time frame for the 23TD and 34TD cycle bottoms.
Here is a visual:
I agree that Gold is going down. I think there will be some panic selling and it will overshoot to the downside--1300'ish & maybe lower.
ReplyDeleteGold looks lost to me and may grind lower for years. But, this is the time you want to buy a bit from time to time.
Everybody seems to be on one side of that boat. Will it capsize? I have no idea, but with the velocity of money stalling out deflation looks likely and gold/silver may become the exchange medium of choice.
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