Gold Price Extreme Calls

Commodities / Gold and Silver 2012 May 28, 2012 - 03:42 PM GMT

By: EWI

Best Financial Markets Analysis Article Gold went mostly sideways in April and remains 15% beneath its September peak at $1921.50 basis spot.

Despite it's lackluster performance over the past eight months, forecasts for ever-higher prices abound. The latest extreme call is for gold to "go parabolic" and touch "$7,000". Apparantley, 11 consecutive yearly up closes, a new record for a commidity, is not straight up enough. Our stance remains that gold has completed a five-wave rally from August 1999 at last years high.

This means that a multi-year decline is unfolding, one that will .... continues in the May issue of EWI's Financial Forecast 10 page report available for FREE.

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About the Publisher, Elliott Wave International Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world's largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private around the world.

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