$1300 Gold at the "End" of the Great Recession
Apparently, the Great Recession is now over (though Warren Buffet - for one - disagrees ). At least the end of it seems to fit as far as the technical definition of “recession” goes. I remain unconvinced that we won’t slip back into a “double-dip” , but no one knows, so I’ll wait and see. Meanwhile, silver and gold continue to rise . $1300 is the next target level for gold, though it is currently overbought and due for a $50-$80 correction, in my opinion. Then it might be time to buy some more. Personally, I hope the recent rapid rise of the rare metal slows and retracts somewhat. It is starting to stray far away from the 200-day moving average . As you know, for myself it is a basic investing tenet that the further any item moves above or below the 200-day MA the sharper and more violent will be the snapback toward that average when the item finally does correct (as everything does in the yin-yang dance of the markets). No one has been more anti-gold in recent decades than Alan Gree