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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