I wake up every morning at least a little bit long gold. I’ve tried staying flat but I start to lose my sanity and start buying every dip. This year, I’m waiting for the big dip and I’m loading up.
Next year will be an “inside year” on the chart, meaning gold will not exceed the $1308-1921/oz range from 2011.
I don’t believe the bull market in gold is dead but there will be a period of consolidation before moving higher. A strong USD will weigh on gold while monetization, currency spats, pitiful bond yields and continued emerging market growth will offer support.
Gold gained 10.0% in 2011, the eleventh consecutive year of gains.
Buy at $1350-$1400 and sell at $1750-1800.
