by David Schectman, MilesFranklin.com:
This is the bottom line: No one can tell you how low the price of gold and silver will go, or when the bottom will be reached, by using Fibonacci points, ACB Elliott Wave patterns, moving averages or anything “technical.” There is only one thing that will determine when the bottom is in and when the bull market will resume and that is the moment that there is insufficient gold (and silver) to meet the demands coming from Asia. The low prices, derived from COMEX, are causing a huge demand and it has been met, to date, by liquidations of physicals from COMEX and GLD. That day is nearing an end. The only way to slow down the demand to the point that it meets available supply is to allow the price to rise. That will happen, and it’s not far off, but using TA to pick the bottom or the timing is not going to work.
The people who rely on this sell “advice” or mining shares.
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