The Phaserl


Gold Closes In On 1976 Correction Bottom, A “Pure Giveaway” At The Time According To Billionaire Entrepreneur

by Tekoa Da Silva, Bull Market Thinking:

As articulated here on Wednesday, gold is now approaching the 1976 bottom in terms of total percentage decline from its most recent top.

Following the FOMC-inspired decline of the last two days, we are now another 6% closer to that bottom:

The 1976 mid-cycle bear market in gold provides us with recent precedent of gold dropping by 48% in the middle of a bull marketonly to rally by 900%+ once smart money fully re-positions itself.

It appears that re-positioning has been occurring all year long.

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