Expect Higher Gold & Unemployment As Stocks Set To Plunge
January 11, 2013
With continued volatility in global markets, including gold and silver, top Citi analyst Tom Fitzpatrick put together a series of key charts which forecast a dramatic increase in unemployment, a massive drop in stocks, and a significant move higher for gold. Below is his excellent piece including a fascinating series of charts.
Here is what top Citi analyst Fitzpatrick said in two reports, along with powerful charts: “Initial Claims, one of our favorite leading indicators of the overall economic picture, appear to be bottoming, pointing to a deteriorating employment situation in the US. Additional red flags are being raised by Small Business, ISM and Consumer Confidence.
Fitting with idea that a low could be forming just as it did in late 1978.