Gold Reckoning Ahead
Although the price of gold is up some 25 percent so far this year, the metal still remains 30 percent below its all-time high of $1,924 registered in September 2011 – so there’s still plenty of room overhead for the price of gold to move higher – as I think it will – without excessive resistance.
I’m no gold bug – but I have been “super bullish” on gold for the past few years. Now, I think the yellow metal’s day of reckoning is quickly approaching.
A decisive break above $1,400 an ounce could be just around the corner – and, to my mind, would signal the start of gold’s next major advance.
Indeed, it looks like gold is setting itself up for a major price advance that will see the metal challenge its previous historic high in the next few years – and, longer term, continue into still higher virgin territory.
Near term, gold prices will continue to be “data driven” – that is dependent on the flow of economic new…