Literal fortunes will be made by this bull market in gold so if you don’t have exposure to it, you need to start doing so [now].
As can be seen in the chart below, during the last Gold bull market in the 1970s, Gold rose 586% during its first leg up from 1970 to 1975. It then corrected 47% before beginning its next leg up and it was the SECOND move higher than was the BIG one – a 743.5% increase in value.
This time around, we’re following a similar pattern. Gold first rallied about 630% from 2003-2011. It then corrected about 43% before bottoming in 2015 at $1,060.
If it follows a similar second leg up this time around, it’s going to ~$8,000 per [troy] ounce before it peaks.
Editor’s Note: The original article by Graham Summers has been edited ([ ]) and abridged (…) above for the sake of clarity and brevity to ensure a fast and easy read. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.
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Related Article From the munKNEE Vault:
More and more analysts are projecting that gold will be going at least as high as $3,000/ozt over the next few years. One analyst even claims that gold will spike at $87,500/ozt.! Below is a revised list of their names and stated rationale for each of their forecasts.
The post Gold Could Go To $8,000/ozt Before It Peaks – Here’s Why appeared first on munKNEE.com.
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