I expect gold will continue to rise this year, however, it will likely be a bumpy ride. My prediction for the rest of the year is for gold to go higher, but in a choppy fashion. The last time that we talked, gold, silver, and a large number of resource equities had just experienced a quick run-up. At the time, I suggested that the market probably needed to 'back-and-fill.' Sure enough, it did. Now, the market's taken another leg up. It probably needs to 'back-and-fill' again. This pattern will likely continue in the next 12 months. We're going to see the market alternately lurch ahead, and then fall back and consolidate the gains. We're going to be in a recovery - which will look relatively flat and choppy, punctuated with 10 percent declines. That is pretty much the way these markets work. My full thoughts are here: (VIEW LINK)



Comments

Please sign in to comment on this wire.