Gold Bull Market Moves Up to Phase Three
Source: Boris Sobolev, Seeking Alpha (1/23/08)
Since September, gold has gained more than 20% (avg. 4.0% per month): steep gains indeed.
The third phase is the most impressive yet. Its start coincided with the widespread recognition of a crisis in the western financial system, further exacerbated by the slowdown in the economy. It is difficult to predict the slope of the third phase, but the first few months have been promising. Since September, gold has gained more than 20% (avg. 4.0% per month): steep gains indeed. The length of Phase Three, we think, will at least rival that of Phase Two - 24 months or more.