A few weeks ago I made the case for a short-term correction in gold and, ouch, that was not a good call. Thus, today I am relying on Adam Hewison to make a call for me. He offers his ultimate price target for gold in this 2 minute video. Let’s just say he expects the intermediate and long term trend to continue upwards.
For the contrarians out there, gold gapped up today and its bullish price momentum is off the charts. Perhaps now is the time for a brief pause/pullback, but you didn’t hear that from me… 🙂
Below is a Finviz chart of GLD:
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