Gold Bull Market Set Up for a Spectacular Move
April 2, 2012
Today King World News was given exclusive distribution rights to the following piece from 40 year veteran Ross Clark, over at CIBC. CIBC has $120 billion under management and Clark began his career before it was legal for Americans to own gold. Here is what Clark had to say: “I started trading gold before Americans were allowed to own it in 1974. So, I have been around these markets for a long time. Investors get concerned about the volatility of these markets, but the reality is that the percentage swings are very similar to the gold bull market of the early 70s and the 1976 to 1980 time frame.”
Ross Clark continues:
“It is key that investors understand these markets experienced similar volatility in the 1970s. For now, if we can hold solidly in this $1,625 area, gold should be explosive for the second half of the year. The mining shares, which have been lagging, should dramatically outperform the price of gold in this next bull leg.
I believe the following piece will help put things in perspective for the gold and silver bulls who have been a bit concerned about the recent action.”
Precious Metals are Poised for a Bounce
“Our ongoing comparison of the 2003-04 and 1976-80 markets in gold related to the action of the current bull market continues to move along with few deviations. The scheduled late-February early-March high, coupled with the HUI testing its upper 50-day Bollinger Band, concluded with the dramatic $100 ‘leap day’ break in gold on February 29th. The next two time windows of significance were to be lows at the end of March (ü) and again at the end of May with the best advance following the second low.”