Gold Price to Drop Below $800?
In the short-term, gold is not looking so good, as this has been quite a bearish short-term consolidation pattern. Some forecasters anticipate a drop down to $772, where they look to get back into long gold positions.
We may not see it in the next year or two, but the government's massive fiscal stimulus can't help but produce massive inflationary pressures.
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Gold strength would undermine the power of the international banking system. They will go to great risk and expense to suppress gold rallies.
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It will be golds time 3-5 yrs from now but not just now…we have to see real estate and the stock mkts enter a true bull mkt again before gold skyrockets as the only we break the deflationary cycle is by hyper-inflating our way out it which I’m pretty sure we will.
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The role that gold can play in any monetary policy has been drastically reduced. It just doesn’t make ecological sense to use gold any more than you have to, including as a monetary instrument. If you’re looking for something to bury in your backyard, bury some seeds and make a Victory garden. Remember those?
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