Gold topped out on Monday and is now beginning its next leg down to below 1220 as the dollar heads higher.
USD/JPY should begin to head higher as well.
This also means that silver is ready to move lower too. It should break 16 on the way down here.
We will then bottom out and have a nice false move higher that can take gold to the 1760 range, give or take.
After that big move higher that gets all the bulls happy again, the rug will be pulled and we have yet one more big move lower coming in gold that will be the last. Gold will then have permission to soar.
I explained this last move down in my book Illusions of Wealth. It’s worth the time to read it just to see what John Exter’s son-in-law, whom I interviewed, has to say about the coming deflationary contraction and Exter’s Pyramid.
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About Doug EberhardtDoug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
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