Corrective Perspective
Posted by Investment Rarities on October 11th 2011 in CFTC, China, Federal Reserve, Gary Gensler, General Economy, Gold, India, Monetary Policy, Quants, Short Sellers, Silver, Wall Street | Be the first to comment!
Gold Scents‘ Toby Connor sees “Gold at a Major Crossroads,” with its direction being determined by the U.S. dollar, and Tim Iacono, comparing recent gold price corrections, predicts that the current one “will be more like that seen in 2009 rather than the more severe, prolonged moves down in either 2006 or 2008. Importantly, for those expecting a hasty return to the $1,900+ level, even though the 2009 correction was shallow, it took a full six months before the old price peak was again achieved.” And citing optimistic price targets by investment banks, he concludes that since they “haven’t been scared off by the recent correction – neither should anyone else.”
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