The Phaserl


New Bull Market in Gold on Track

from The Daily Gold:

Last week we focused on the gold stocks. There was more initial evidence of a new bull market there than in Gold. However, Thursday Gold erased some doubts as it rocketed above $1200/oz and to as high as $1264/oz before settling a bit lower. That move puts Gold’s recovery on par with those following past major lows and offers greater confirmation that a new bull market is underway.

The chart below plots the recoveries from 1976 and 2008 and puts them on the same scale as the current rebound. Note how those recoveries surged well above $1200/oz within three months. Moreover, note how $1200/oz served as a pivot point for those two recoveries within two months before pushing much higher.

Gold does not have to zoom to $1400/oz in the next few months to validate the new bull market. It’s more important that it holds above $1200/oz in the weeks ahead.


In addition to $1200/oz, $1180/oz is also a very important level. It has marked resistance and support numerous times in recent years as well as during 2009 to 2010. A monthly close above $1180/oz, which also surrounds the 20-month moving average is another sign that the bear market in Gold is over. February is only half over but Gold appears poised to close above $1180/oz.

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2 comments to New Bull Market in Gold on Track

  • john

    These CUNTS will definitely bring it back down below 1800,guaranteed.They are never going to allow the price to rise,they have brought it down $60 already,in a couple of days,but it takes forever to get back up there again.In all honesty,these BASTARDS can bring it down to any level they so wish.I will still never sell,but I won’t be adding any more.

    • Eric

      john, they can put the digital paper price at $1 or $1,000,000 dollars. This is not news.

      But there are real world implications for such actions.

      You never sell Gold. You just accumulate it and hold it over time. Let the central banks destroy the currency while you sit on a comfortable stack. The value is in the possession, not the price.

      The price will rise as they lose control. You won’t like it. But at least your wealth will be protected somewhat.

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