The U.S. economy remains lackluster and additional deterioration in Europe will make things worse - We would not be surprised to see further quantitative easing, or QE3, in early 2012, which would be bullish for gold -
Based on the points made above, gold remains in a bull market from both fundamental and technical perspectives, and what we're seeing right now may be the best buying opportunity that we'll see in the coming years -
- the recent move down is still in tune with previous price patterns. Please note that the ratio declined about 61.8% of its previous rally - just like in 2006. Moreover, the price is now slightly below the 50-week moving average - just like in 2006. The similarity between these two time-frames is quite striking indeed - please take one more look at the previous chart and compare the shapes of the 2006 and 2011 declines. The implications are clearly bullish and the recent price action of this ratio clearly appears to be a mid-term correction, nothing more, nothing less.
Summing up, although recent declines have been sharp, multiple signs suggest that the local bottom is in and higher gold prices are now expected -
Please, use the ART pictures in Ben's great slideshow as a bottom line, ex. use it in all of the e-mails, facebook & IHub messages etc. pass it (the slideshow) along to all friends etc. >>>>>>>>>> for a better world for the People & Great American future -
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