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Gold finds itself at a very important test of support at (1) in the chart above at the top of its falling channel. A break of this support line could bring in a new round of selling pressure for Gold and other precious metals!
The Power of the Pattern suggested to get off the “Crowded Gold Train” at $1,900 per ounce (see post here).
Joe Friday…. Multiple support points come into play at the $1,300 level for Gold at (2).
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Want to know thoughts on silver.
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Thank you,
Sincerely,
Gary
No way will gold reach $1300. Maybe close to $1500. If gold got anywhere near $1300, I’d sell everything I own (except my gold and silver), borrow as much as I could, and buy as much gold as I possibly could. But millions of others would do the same long before gold reached $1300, so even with the power of the paper manipulators, no way they can drive it down that far.
I wish you were right, cuz I’d love to go “all in” at $1300!!!