Citi Asks “How High Can Gold Ultimately Go?”

Friday, August 30, 2013
By Paul Martin

by Tyler Durden

Gold looks to have found a base. Citi’s FX Technicals retain a view that we can see a “low to high” percentage move in this gold bull market similar to what we saw in the bull market of 1970-1980. They add that if we extract the final leg of that move in December 1979-Jan 1980 which was totally driven by the USSR invasion of Afghanistan – almost doubling the price of Gold over 5 weeks – then we end up with a target of around $3,500 over the next 3 years or so. The charts below are compelling in that respect, but before we look at them we will indulge in some pontification…

The Rest…HERE

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