gold bull

  1. 365 Posts.
    Interesting stuff from Weekly Review of Gold
    by Dan Norcini



    Here is another interesting tidbit. Since 2001, there have been THREE sizeable price reactions in this ongoing bull market. The first occurred in February 2003 and took gold from $390 down to $320, a drop of $70, over the space of two months (note - I am rounding off the gold price for the sake of illustration). The second occurred in April 2004 and took gold from $430 down to $370, a drop of $60, in a period of some six weeks. The third is what has occurred since the last week of November 2004 which has taken gold down from $460 to the current reaction low of $410, a drop of $50, in a period of 2 ᄑ months. While these price reactions are painful for the bull camp, notice that as of now, the setbacks are becoming progressively shallower before the next leg up commences. Translation - buyers are not waiting as long before re-entering the fray. They are accumulating at higher levels.

 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.