Friday, 29 November 2013

Michael Shaoul - Gold to $1000 ?

A number of commentators point to support for gold around $1000.

A good interview with Michael Shaoul here to consider comparisons to other markets and more.
. And what happens in a period of underperformance of that degree in asset class which people were really in love with beforehand is that it takes a very long time until people really give up on it. So the people who were very bullish about gold a year ago have stopped seeing any weakness as a buying opportunity.
If we recall Peter Brandt saw similar support

And Larry Edelson considers potentially falling that low.

And Gold Scents blog has been suggesting a near $1000 target for a while though more recently suggested a bottom was made.

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