www.armstrongeconomics.com
Gold has opened the week in Asia with a bang – down nearly $44 at the
low of $1083. This has come right on target for our Panic Cycle this
week. Gold is headed sharply lower and it will break the $1,000 level
and everyone will then start to look for $600-700 area.
We can see our Energy Models turned negative so a washout to the
downside was in order. Everything remains on target as we move closer to
the Benchmark targets. Keep in mind that many will start to refuse to
sell and others will use this to claim prices should rally, as they are
doing with the US Mint stopping the production of silver Eagles. This is
by no means BULLISH – it will have no impact upon price.
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