Review Gold Price Corrections from 1978 to 1980

During the 1978 to 1980 gold bull run, each major gold price correction took only four weeks to find the bottom. After that the gold price marched back to its old highs.

Renowned gold expert Jim Sinclair of jsmineset.com has this advice regarding the current correction in the gold price:

"Gold is going to $1050 and then on to $1650. My only concern is that I may be too conservative. If you are on margin in anything gold and not a professional with at least 25 years of professional experience, you are a raving nut job. This is just a short term reaction which will run its course before gold establishes higher highs. You have seen this a million times!"


Next week will be four weeks since this current correction in the gold price began and may be an excellent time to buy gold. Jim Sinclair has this simple but very wise advice to give regarding when to buy and sell gold, "Sell strength and buy weakness."

Gold Price pattern setting up for a 100 dollar up move..

GATA be in it to win it..
Letter to Bill Murphy today..
At first glance it’s a rising symmetrical triangle and with your fundamentals; It’s a very bullish pattern. Simple math says we have a 90 dollar move coming, so I don’t want to be fooled by any traps here.

Take a look here for examples..

http://www.chartpatterns.com/symmetricaltrianglechartsstocks.htm

887.50 Pulling on the GOLD PRICE..

887.50 is pulling on the Gold Price. This correction from 850 puts gold in a healthy stage to regain traction for its run to $1,000.00 +



887.50 is the next Magnet pulling on gold now.

JIM SINCLAIR ON BLOOMBERG
Who is Jim Sinclair click here..

The Cartel should be worried about the GOLD PRICE ..NOT YOU!

Bill:
I think you share the same sentiment, I got an email today asking me if I am worried about the Cartel I looked at my 3 year chart and laughed. The Cartel should be the ones worried, they have an exponential problem on their hands going forward.

At Gold Rush 21 Sprott’s John Embry, Wits Gold chairman Adam Fleming, and I (among others) predicted we would see $3,000 to $5,000 gold, which was $436 at the time of the conference. If you have not ordered the DVD of that conference for a lousy $20, you are making a big mistake. Most of the speakers laid out what was going to occur gold price wise and WHY … reasons not explained ANYWHERE ELSE IN THE WORLD!

To view the 2 minute trailer of the 24 minute highlight film, go to www.GoldRush21.com.

31 Oct 2007

Gold Price Wave 3 Begins - Gold Shares will Catapult Higher

As important as it is to own physical gold here on out, this wave in the gold price will catapult the gold shares much higher.

The chart to the left during the late 2005 and early 2006 shows the period the HUI crossed the bullion performance as the leverage kicked in.

Gold Price on Thanksgiving eve. Double Breakout.

Happy Thanksgiving.

Gold Price Break out today..

Gold roared through its down trend line, you have to be aware it could be a short term bull trap but it also shows me gold has strength to do this in one session. A breather or a test back at the line of breakout is possible, if we have strong follow through gold could quickly move past 845 to test 887.50.

Consider Dollar cost averaging goin forward

Gold Price almost there... Wave two Corrective phase. RSI 40 approaching

In the bull cycle while the gold price is trending higher, (highlighted in light blue) corrections bring the RSI down to the 40 level.. one more and drop we should be there. I call it my buy zones and they have proven great places to dollar cost average or enter a trade.

Gold Price we know what we want but what does the Enemy want?

As gold longs we know we want gold to move towards its inflation adjusted highs but what does the enemy want? They want Gold bulls to change their mind & dismount this risky asset that is becoming a terrible nuisance to the King makers.

I can assure you the Gold cartel will want to break this trend line to the left to stimulate the stops to create an avalanche in selling to knock the gold price down. Can they do it?

We shall see, regardless the trend remains strong so fear not and stay long!

If the future shows that 750 or better ends the corrective wave two the Cartel will have accepted a major blow!

Filter the noise in the Gold Price

Anatomy of a correction forget the NOISE if you want to see a sample of a correction. I have two charts to put todays NOISE in perspective..

The 1978 chart below is not to scare gold investors but to put in perspective how gold can react and correct. If we don't correct down to the 770 and consolidate, the probabilities that we are in a run away gold price increases in my honest opinion. There are some fundamentals you may want to consider going forward from Jim Puplava ...click here

Silver Price on the Launch pad..

After a break out its common to come back and test the break out line. It looks to me this was the process in the last couple days.

Look how hard and fast it bounced recently, this must be huge demand
Appearing in many forms (physical and paper).

This must be shaking the cartel.

The last time this happened to silver…. silver never looked back for 7 months

Gold Price Corrects.. but not very significant so far.

I am in the GATA camp that suggests the Cartel is running low on physical GOLD to continue suppressing the gold price at the rate they have been doing. Inertia is a term in physics that states objects in motion like to stay in motion, objects that are still like to stay still.. It takes a lot of energy to change the state of the gold market when it gets rolling, that is why it is essential that the Cartel keeps gold from trending higher.. areas of consolidation are the cheapest ways to stall this market. Gold appears to have made a significant correction today, but has it really? In the past a correction from a breakout level retraced the gold price 38.2 % from its entire move, from bottom to top (see red lines on the chart above). Today gold down 30 dollars from the 845 area is not even close to the 38.2 % correction that many Fibonacci Traders would show as an area of support. It will be interesting to see where this correction goes from here. If there is a rush to buy gold before 770 (the 38.2 % Fibonacci) retracement level, I would think its evidence that the Cartel is in serious trouble with their abilities to control this market.

GOLD PRICE may be ahead of schedule..

My technical analysis of the gold price using Jim Sinclair's fundamentals, I had a probability chart showing gold correcting to 750 area after hitting 850 level.. only thing is It looks like this correction was suppose to happen in January. Are we ahead of schedule?

A close look shows even though 1650 is a great appreciation from here and now, scary moments will exist!
(Money management emotional control like Jesse says).

Alex

Believe me Jim Sinclair learned from the Best

Click here for a BIO of Jim Sinclair and his dad

www.jsmineset.com

Get Leverage To The GOLD PRICE

We have just witnessed only the first breakout leg after this correction.. the next leg up could be the largest move in gold stocks since this bull market started!

Isn't it Obvious that the GOLD PRICE was mauled!

Do I need to repeat.. The Cartel will target trend lines when your not looking.. to understand why we came here so fast watch GOLDRUSH21







OUR 50 DOLLAR UP DAY is setting up!! HANG ON TIGHT..


A great way to Dollar cost average.. If the cartel hands you a gift take it.. GOLDMONEY

THE DOW HAS OFFICIALLY Crashed ..PRICED IN GOLD

Its official, The DOW has crashed --priced in GOLD.

Sweet Spot for the SILVER PRICE appreciation lies ahead..

The Cartel wont take the break out in silver lightly. They will use creative ways to slow the advance .. but advance silver will.

Like the last run Silvers Sweet spot lies straight ahead.

Jim Sinclair mentions Gold is headed now to $ 1,050 US..

Even using a historically high GOLD : SILVER ratio of 45 :1 an improvement from today's ratio would get you a target price of $ 23 dollars US

To see Jim Sinclair's analysis today visit:

The GOLD PRICE.. has room to run short term target 835 US

Gold has room to run.. Since gold took out its all time monthly high .. there is very little resistance left on the gold charts. 835 is a very reasonable target at this point before we take out the all time high of 850.

Silver Price set to soar.. Triple Break out alert..

Silver price is ready to soar. This break out pattern is more bullish than the previous break out in silver which caused a double in the SILVER PRICE in only 7 months!