Gold Price Readying For A Leg Up

- August 20th, 2009

Gold Investing News reports gold price is preparing to go up. History does repeat itself. Going by the historic pattern of the gold market in the ‘70s, gold is set to experience an upward resistance for 19 months after its recent peak. Gold’s recent peak was $1,014 in March ‘08, roughly 17 months ago. History tells … Continued

Gold Investing News reports gold price is preparing to go up.

History does repeat itself. Going by the historic pattern of the gold market in the ‘70s, gold is set to experience an upward resistance for 19 months after its recent peak. Gold’s recent peak was $1,014 in March ‘08, roughly 17 months ago.

History tells us this is precisely the move we should expect: gold should begin its second and largest leg up in September or October 2009. Investors should watch the gold chart closely over the next month or so. If gold makes a move above $980, it is time to add to your current position. If it clears $1,000, hold on tight, cause the next leg up in this secular bull market has just begun.

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