GOLD Analysis
SUMMARY
Why isn't Gold screeming past $1,500? Shouldn't it be the "Safe Haven" during such climactic declining days of stock markets? Hmmm....Could Bitcoin become the New Safe Haven?
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Fools Gold...BTC will reign supreme...
No. Both Bitcoin and Gold will co-exist as safe havens.
Although I respect you and your analyses over the past year, your gold analysis will be proven wrong. I'm deep the weeds. There is a very large amount of private funding deals happening in gold/silver exploration companies and M&A activity will continue to see an uptick into 2019 and beyond. Gold will at least return to the 2011 high around $1900 before its next bear market takes over.
And the quite reliable gold silver ratio just hit its highest level since 1991 of 86oz of silver to one oz of gold. There has been a couple of misses with this indicator, but the majority of the time it's a good signal that silver will outperform relative to gold going forward, but both often see their value increase significantly.
I'm not trying to be critical, because I really like your analyses since they challenge my beliefs and force me to take a time out and consider the facts to see if they are still valid according to history.
I too was just wondering what is going on with gold. Seems like it should be higher.
Thanks Haejin, what's Your alternate count?
We'll soon see if this is invalidated. currently the sub-wave count of this "Wave II" isn't looking very corrective.
Even if you consider this a bear flag it's now bullishly breaking out, when the markets open in a few hours it will go the inverse of the DJI/SP5 - today's cruch-time.