gold forcast of below 800, page-69

Here is my last prediction 7 oct 2008

It seems quite obvious that gold is being treated a save haven, the problem is because the price is not based on fundamentals, it will crash at the stock market bottoms.
Why? because at that point the market will exit safe havens and sell gold. You could use gold as a market indictor of the bottom.

At 7 Oct 2008 gold was $850 ounce and by 24 Oct 2008 gold was $730 ounce.

What has changed since 2008. Absolutely nothing.
I would say the conditions for a large gold crash are almost perfect because gold has been flogged to death as a hedge.

The high price of gold makes it too expensive which adds risk as an inflation hedge. Oil is a very big indictor for gold. Just those two points alone indicate a gold correction. What fool buys gold at the top of the market.

I hold some gold stocks that have lost 65% of value. If China was so crazy about gold they would be taking over gold companies.

When the Chinese truely believe in something they buy it and that is not reflected in gold stocks. If China had some conspiracy to corner the market they would be buying gold companies for cheap easy supply.