US debt ceiling has just been pushed upward for the 79th time since 1960, and right after the last raise in 2011 - the price of gold rose +17% between August 1st ($1620), and August 22nd ($1898) – that was +17% in just three weeks! A similar reaction by gold at this time could result in price rising quickly from $1281 to $1498.
Here is the gold chart that records the beginning of the current bull market, along with three upside breakouts and the expectation for the next breakout, marked by arrows. (Charts courtesy stockcharts.com unless indicated).
Rickards: Gold Could Ultimately Surpass $9,000 an Ounce Thursday, 02 Jan 2014 By Dan Weil