Wednesday , 6 December 2023

Gold to Plummet to $1,200 – $1,250 & Ultimately Drop to $1,000 – $1,100 (+2K Views)

[A] quick, painful and powerful correction is coming which will be much like the twosaupload_thumbsdowngold-day massacre we witnessed just a couple of months ago. This time it’s on it’s way to an ultimate long-term target between $1,100 and $1,000/ozt. You can argue with me on this one until you pass out but that won’t change anything. Save your breath and prepare instead. Here’s how.

So writes Greg Guenthner ( in further edited excerpts from his original article* entitled Coming Soon: Gold’s Next Breakdown.

[The following article is presented by  Lorimer Wilson, editor of and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]

Guenthner goes on to say in further edited excerpts:

Since gold’s meltdown…[in April], the metal has made a couple of big oversold bounces. Each of these attempts to regain momentum had two important characteristics:

  1. both times gold tried to move higher it turned back at its short-term moving average and,
  2. each time it fell, $1,350 marked the spot where buyers finally stepped in.

Gold - Spot Price

Once the $1,350 price is violated I suspect a swift move lower…[to] a short-term target between $1,200-$1,250…[which] is one step closer to my ultimate long-term target between $1,100- $1,000…
[Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.]

* (© 2013 Agora Financial, LLC. All Rights Reserved.)

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One comment

  1. I disagree, because I feel the charts are being “played” by the Central Banks.

    If you don’t think that PM’s are now being manipulated by the Central Banks, then I agree that you should not be investing in PM’s!
    If you believe that printing paper money cannot go on forever then what is happening now is nothing but a huge buying opportunity!

    My gut feeling is that when the PM “reversal” happens, it will be so extreme that most small investors will not be able to jump on-board before the prices have skyrocketed relative to where they are currently, due to the market dynamics that favor the really big investors.

    Here is a great PM question for you, Are the Central Banks still buying Gold, and if so why?
    I look forward to your comments!

    Consider: As the Central Banks further restrict credit, what other options do small investors have to grow what is left of their portfolios? This is a move to drive a stake into the hearts of all those that are holding PM’s; while at the same time these Central Banks (who are in on the deal) are scooping PM’s up with their own paper…