Gold Silver Decline As Expected

Posted on Posted in Daily Blog Post

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If you read my blogs regularly, you should know that I am still very bearish on gold and silver intermediate term. I asked my members to short gold from 1245-1255 and today gold plunges to 1195 and closed at 1199. I still expect more downside to come. The current Short Term Cycle low is looming. We may see 1140-1160 pretty soon.

Silver broke to new low today and probably it is leading gold down to break the triple bottom at 1181 pretty soon. My intermediate term for Silver target is 15.50. Medium term target is 13.00-13.50 within the next 9 months. However, we must watch out constantly for the turning point in case its Timing Cycle inverts. My Long Term view ( after 2015) is very bullish for gold and silver.

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