Thursday , 13 June 2024

Gold Has Just About Bottomed: Now's the Time to Buy, BUy, BUY! Here's Why

If you aren’t already in, this coming Monday or  Tuesday (Nov. 5 – 6th) should represent an exceptional buying opportunity as gold moves into its final intermediate cycle bottom. Now that the 38% retracement has been  breached I would look for a final exhaustion move to test the 50% level  early next week as we move into the elections. Words: 284

So says Toby Connor ( in edited excerpts from the original article* posted under the title TIME TO BUY, BUY, BUY.

 Lorimer Wilson, editor of (A site for sore eyes and inquisitive minds) and (Your Key to Making Money!), has edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.

Connor goes on to say, in part:

“At that point gold sentiment should be  completely washed out and gold will be set up for an explosive move to  test the all-time highs by the end of the year or early January.


Miners should deliver even bigger  gains as I expect them to break out of the bull flag that’s been forming over the last 4 weeks and generate a 25-30% rally to test their all-time  highs.
We are moving into one of those rare  buying opportunities that only come around once or twice a year. This is that point I warned about in my last post where one has to ignore the media and nonsense about QE3 not working. It is going to work, and  it is going to work extremely well. I fully expect it to drive gold to  $4000 by mid 2014.

This is purely a profit taking event,  nothing more. These situations happen like clock work about every 20-25 weeks, as  you can see in the chart below. Gold is now very late in the timing band for that major cycle bottom.



I think the odds are very high we get a final bottom by mid week.”
* Source of original article: (SMT premium newsletter. $10 one week trial.)

Editor’s Note: The above post may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.

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The upside potential following this correction still looks huge for Gold and for Silver. We expect Gold and Silver to soon make a run back up to the recent highs – but at a sharper angle than they fell.  [Let me explain why this will likely be the case.] Words: 528

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4. Gold & HUI About to Turn Upwards, Reach All-time Highs By Year-end and Continue Dramatically Higher into 2014! Here’s Why


…Gold is about to undergo a  profit-taking event…as a result of the USD beginning a rally, probably beginning today. I’m looking for the dollar index to test  the downward sloping 200 day moving average [see chart below] before rolling over and  continuing the secular trend. This should drive gold down into a  final intermediate degree bottom around $1694 or so before testing the all-time highs at  or slightly above $1900 sometime before the end of the year. [Let me explain why that is most likely going to happen.] Words: 401