
- Commercial traders, and the historical significance of their strong buy action are highlighted . Such action is quite rare, and may carry important implications for the upside of the gold price. I’m looking for a slight pull back here, and then it should be off to the races into the large up channel, with an intermediate term target in the $2330 area.
Once these commercial buyers step in, the force of the move to the upside tends to be very powerful. Within a couple of years, the gold price can move well over 100% to the upside.
I am projecting gold at $2000 by the end of 2011 or early January, 2012. Please make a note of my gold COT chart analysis price target, which is $2330 as of July, 2012.
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