Interesting video on gold from Michael Maloney. Here is his perspective on the long term development of the gold price. According to his analysis we are very early in the cycle and gold should be around 15.000 USD$ today. Talk about some huge price targets for gold…
My job is not to predict the future and to stay as balanced as possible. I try my best to avoid having too strong an opinion. Technical analysis is a great tool to keep me balanced. That’s why I stick to the charts and let them guide me. If gold indeed is headed to these price levels rest assured the charts will tell you and give you ample opportunities to trade profitably all along the way up to the ultimate target.
Have a great evening!