We are Nearing a Major Run Up in the Gold Price Similar to Early 1979

Adjust the price of gold in terms of true inflation numbers, you get a figure north of $2,000 dollars today. However Golds second attempt at $1,000 resulted in a nasty stumble in the last couple months.

Is Gold in need of a long consolidation? I don't think so. I believe we are nearing a major run up in the gold price similar to early 1979.

If a 20 % correction in the gold price started under natural selling, I would believe it would be time for pause, perhaps many months (ie 6 -12 months) to consolidate before the market figures out what to do before it resumes its bull.

However since this sell off has been criticized as non legit with evidence of intervention followed with intense physical buying; this is not a sign of "TIME FOR PAUSE" but instead a rush to take advantage of a discount. This tells me the gold price could move substantially higher in the months ahead.

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