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Gold Moving Into Yearly Cycle Low

ByGary Savage
Published 05/01/2016, 12:39 AM
Updated 07/09/2023, 06:31 AM

As is always the case at these major turning points, the usual analysts are going to get it wrong again. The US dollar is finishing an intermediate cycle decline, not starting one.

Stocks are dropping down into a half cycle low of intermediate degree, not starting another leg down in a bear market.

And gold is putting in an intermediate degree top and will drop down into a yearly cycle low. It is not starting a sustained move higher. Seriously, how do these guys manage to get it wrong at every one of these turning points?

Latest comments

Of course people will take profits but gold is not full of longs. It is full of numpty bears feeding the rallies.
What some posters are suggesting here is that no one will be taking any profits on Gold.. Human nature/Fund manager incentive dictates that profits need to be taken. Reflect back on the chart for the last 16 years. Where has there been no profit taking? Why would this time be any different? Be logical. The gold price is probably going to hit $1500, but before that it will have a few breathers and Gary's pointing out that the breather for this year will occur in a month or so.
I agree with Gary. As a contrarian, I believe, the market will make new highs once all the longs have been washed out. Gold will start declining after this temporarily hiccup in the market is over.
By the end of the year we'll know if he's right or wrong. . . The strong language used in this article should make for good reflection, whatever happens.. .
Gary is actually right... through mid-June... He knows it... And I know it...
Lol. Gary you must be a comedian. Face reality of the world economic. The world major currencies are losing value in the name of lower interest rates. Which is causing inflation or stagflation. Gold is not the only commodity that will experience a price surge from this. Even your shirts and shoes will increase in price.. . If you decide to look your charts correctly without being sentimental, you will see the same.
I agree with much of what you said. The timing of the economic instability will heavily impact the direction of gold this year. With economics around the world sinking, more and more people will start looking towards gold as a safe haven. We'll see in time if the situation changes but I'm fairly skeptical of a strong rebound at this point.
Mr. Savage, the party is over. Gold and Silver are going to: "no offer" , they will not be sold.. the debt cycle is ending and the paper is dying.. the yuan will be back by gold once it becomes officially reserve currency in October of this year. the 1.4 quadrillion dollars derivatives market will implode sometime this year taking down. everything denominated in paper.. the day of reckoning has arrived and everybody should prepare for hyperinflation. . .
Boo Gary... Gold isn't going back below 1270. It's going up sir. Upp upp.
This year is different due to record US government spending.
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