Eric in IL

China Concerns, Crashing Currencies and the Future of Gold Purchases

Gold actually looks to be forming a nice double-top here. I see no reason why we couldn't retrace all the way back to $600 in the next two years. I think we have seen a fundamental shift in leverage and the money printing will not have the near-term inflationary impacts that everyone expects. When Gold doesn't skyrocket to $2000 like everyone expects, and they see that equities have relatively outperformed from here, they will flee gold. That is when I'll buy. Platinum has already retraced to 2004 lows. Gold hasn't. And even if it does maintain a trend, the long-term trendline intercept is near $700.