The Phaserl


Gold’s Explosive Move Continues–Trader Expects “$1500 Within Next 2 Weeks”

by Tekoa Da Silva, Bull Market Thinking:

What started out as a quiet and sideways week in the metals and miners, finished off explosively!

Technical gold trader Gary Savage noted in weekend commentary that Friday’s explosive finish in gold confirms yet another trading cycle, which may assault the 200 day moving average at $1500 oz. within the next two weeksHe further added that as a result of the strength of this close, he also expects a 10%-15% move in the miners next week. 

Doug Casey echoed similar bullish thoughts in an interview on Tuesday, and spoke to the two greatest speculations of his career–both of which were mining related and completely based on luck. He also noted that, “These mining stocks (the well-managed ones) are really about as cheap as they’ve been in history…So unless you think people are going to stop wanting or needing copper, nickel, uranium, gold, silver, and moly, you’ve got to buy these things now.”

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