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Interesting chart today by Chris Kimble.
CK asks a vital question: Will the multi-year gold support line hold?
I know in this forum it is a minority view. Yet I think it will not.
In historical terms, this is not even close to being over.
The March 1980 high for gold was in the low-$1800s, adjusted for inflation.
It then took only five years for gold to trade at 1/3 of that price.
Applying this price model to today's broken parabolic trend; gold will trade for a 3-digit price sometime next year.
Gold may fall further, but not because of a collapsing bubble. That stage has yet to be reached. It can be misleading to refer to linear charts over long timespans.
The daily and especially the weekly are NOT oversold now.
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Kimble Gold XAU chart
Posted by zenman on 14th of Oct 2013 at 11:12 am
Interesting chart today by Chris Kimble.
CK asks a vital question:
Posted by cubby on 14th of Oct 2013 at 06:45 pm
CK asks a vital question: Will the multi-year gold support line hold?
I know in this forum it is a minority view. Yet I think it will not.
In historical terms, this is not even close to being over.
The March 1980 high for gold was in the low-$1800s, adjusted for inflation.
It then took only five years for gold to trade at 1/3 of that price.
Applying this price model to today's broken parabolic trend; gold will trade for a 3-digit price sometime next year.
GOLD SUPPORT
Posted by c32y7pr8 on 15th of Oct 2013 at 02:23 pm
Gold may fall further, but not because of a collapsing bubble. That stage has yet to be reached. It can be misleading to refer to linear charts over long timespans.
The daily and especially the
Posted by rbreese on 14th of Oct 2013 at 01:15 pm
The daily and especially the weekly are NOT oversold now.