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XMFSinchiruna (28.54)

Why Gold Will Continue to Climb

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34

June 23, 2010 – Comments (10) | RELATED TICKERS: SLW , GG , NGD

Don't be fooled by gold's quick retreat from the latest all-time high above $1,260 ... that remains a significant breakout within an unbroken uptrend that is supported by a fresh round of fundamental drivers like China's currency move and Saudi Arabia's doubling of reserves.

I submit that we remain within what I have previously offered as chapter 5 of the multi-year bull market, and I see $1,650 as a likely intermediate target for this chapter before the gold price again faces substantial resistence. The subsequent corrective phase will comprise chapter 6, and the march to $2,000 and beyond chapter 7. I look forward to writing the book with you as it progresses.

I hope you enjoy this analysis of the recent breakout, and remind you to please rec the article if you do so that it may reach a broader audience:

Why Gold Will Continue to Climb

http://www.fool.com/investing/general/2010/06/23/why-gold-will-continue-to-climb.aspx

Thanks as always for reading, and for sharing your thoughts and reactions.

10 Comments – Post Your Own

#1) On June 23, 2010 at 6:09 PM, binve (< 20) wrote:

I am right there with you! Thanks!

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#2) On June 23, 2010 at 6:44 PM, camistocks (< 20) wrote:

When this cycle ends gold will touch $15'000, maybe even $20'000. Just my Krueger Rands on this... ;-)

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#3) On June 23, 2010 at 6:46 PM, alstry (35.70) wrote:

Sinch....

Gold has been accepted as an exchange for production for thousands of years....and it may continue to be in the future.....

But in this Digital Age of increasing central control, do you really think governments are going to permit you to control something they can't control?

Don't forget,  the horse was transportation for thousands of years before the industrial age.

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#4) On June 23, 2010 at 6:47 PM, XMFSinchiruna (28.54) wrote:

camistocks

Those numbers are so big you had to move your commas up. :P

I would never say such levels are not possible ... only that I'm waiting until we reach $2,000 to then reassess the next likely price levels.

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#5) On June 23, 2010 at 6:54 PM, MegaEurope (22.68) wrote:

Unlike Nouriel Roubini's bold claim that those expecting sustained strength in gold prices "delude themselves," we here at the Fool consider an open dialogue weighing diverse perspectives as the best means to build a stronger investment community.

I get what you're saying but the grammar is defective.  [Claim] should not be compared to [we here at the Fool].

 

Diverse perspectives are nice, but having one correct perspective is even better.

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#6) On June 23, 2010 at 7:17 PM, XMFSinchiruna (28.54) wrote:

MegaEurope

Granted ... it's an awkward sentence. Replace 'unlike' with 'rejecting', and the problem is solved.

I'm glad you prefer one correct persoective, and hope you recognized it in the article.  :P  Just kidding!

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#7) On June 23, 2010 at 8:15 PM, ChrisGraley (31.45) wrote:

Now's the time to really start thinking about gold's performance vs the Dow.

If you get that answer right, you'll be the most prepared when the market hits the bottom. 

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#8) On June 23, 2010 at 9:55 PM, cbwang888 (25.84) wrote:

Gold will once again make a new high next week 

1. China's RMB starts its move:

 

2. PM furture expiration week

3. continuously slow recovery or double dip + sovereign debt worries. Financially overleveraged stocks are overpriced and risky

4. Bullish finish today

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#9) On June 24, 2010 at 10:13 AM, Griffin416 (99.98) wrote:

2 other chart reasons gold will continue to rise

http://www.mcoscillator.com/learning_center/weekly_chart/the_one_real_fundamental_factor_driving_gold_prices/ 

http://www.mcoscillator.com/learning_center/weekly_chart/how_gold_forms_tops/

gold is trending higher but not actually spiking yet, no top yet.

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#10) On June 24, 2010 at 11:25 AM, cbwang888 (25.84) wrote:

Looks like (3) of my points propel 1%+ gold price rally so far for the day.Gold opened lower today and reversed higher today reinforce the technical bullishness.

Some talks of the day:

Retailer stock indexes has entered bear market

Financial reform bill could limit bank's profit in the future

US T-bonds bubble getting bigger

It is Greece again,

 

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