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Gold: D-Wave looks like it could rally

May 15, 2009 11:00 am

The Gold Index (shown here as the Gold ETF) (GLD) is shown with a technical indicator similar to an Elliot Wave count. This seems to imply that gold is due for a significant move higher and that can be backed up by our daily movement closer to the dreaded inflation monster in the U.S.

TDIMG portfolios are long GOLD through (GLD) and it has been working nicely for us. Target are all over the place from analysts with some projecting $1,200 per ounce before long. I would suggest that if all stars align with inflation, fear and consumption increasing that may be a real possibility.

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Written by Andrew Horowitz · Category(s) Economy, Markets, Strategy    |  Tags: • •   

One Response to “Gold: D-Wave looks like it could rally”

  1. SOCI is a buy @ these prices - Gold forecasters have targets for GOLD of anywhere between $1200 and $2000 an ounce. | Daily FREE Stock Alerts on June 3rd, 2009 8:09 am

    [...] Elliot Wave Theorists see a gold price of $1200 very soon [...]

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