Gold: Buy Signal Approaching

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The most appropriate way to view the latest correction is as part of a continuing multi-month consolidation in precious metals. In fact, since March gold price is starting to form a giant cup and handle formation, which could propel its price to the next price target of $1,250...Boris Sobolev

...We believe the market is mistaken in anticipating that the worst for Wall Street is behind us and that the Fed is about to shift its priorities from preventing a recession to fighting inflation...

Fixing the rusty Wall Street money-making engine and the suffering real estate market will take considerably more time than the market currently expects. Rectifying these two problems is on the highest priority list for Fed and the federal government. Inflation, while it cannot be ignored, is on a backburner. Obviously, the situation remains bullish for precious metals.

The most appropriate way to view the latest correction is as part of a continuing multi-month consolidation in precious metals. In fact, since March gold price is starting to form a giant cup and handle formation, which could propel its price to the next price target of $1,250...

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