GOLD 0.51% $1,391.7 gold futures

Hi Sergeant thanks for the chart. It's a very similar price...

  1. 1,273 Posts.
    Hi Sergeant thanks for the chart.

    It's a very similar price action to many of these gold companies. I posted a very similar ETF chart a month or two ago that looked equally bullish with DMA cross.

    I pay particular attention to those in the industry who have been through many bull & bear markets in the commodities space as I'm sure you do as well. Rick Rule is a standout. I believe this is his 4th time around and he frequently discusses the precious metals recovery as being saucer shaped apposed to 'V' shaped. Rule has consistently been accurate about this recovery and the price action in the precious metals market.

    Does the recent drop in the gold price affect your outlook for gold in 2014? Rick Rule:

    No, not at all. In a recent interview, I suggested that gold and gold equities would grind higher after reaching a bottom in July of last year. That is precisely what’s happening. We’re seeing higher highs and higher lows, but every new high requires a subsequent consolidation. You’ll be up 10 or 12%, then off 8 or 9%. The ‘backing and filling’ that we are seeing right now is completely consistent with the behavior that we would expect to see coming out of a bear market bottom into a gradual recovery. I think this market is in good shape. It’s healthy. These ‘j-curve’ advances are followed by appropriate declines on the backside. I am very encouraged by the market action that we are seeing in both gold, and the gold equities.

    http://goldsilverworlds.com/investing/rick-rule-the-gold-market-is-in-good-shape/
 
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