I was a bit astonished today to find that in the midst of all of this turmoil the Aden Sisters Forecast is actually going to be delayed one day this week because of a technical difficulty. I presume they mean of the computer sort and not market technical analysis.
At times like this, investors who now feel like speculators (hint: you are!) want to be reassured as often as possible; note that the reassurance is only required when market volatility is of the downward sort.
Naturally, when market volatility is of the upward sort, these same investors feel like geniuses!
So if your favorite paid investment newsletter is quiet and you want some idea of where in world the markets are going, then may I suggest you turn to Peter Grandich and his FREE blog? (Disclosure: Peter does have clients who pay him and he fully discloses all of that on his website; he does NOT pay me to promote his blog.)
Peter posted an alert this morning reiterating that he expected this current gold consolidation to end in the $1185 – $1190 range.
From my daily reading of Ed Steer of Casey Research and my own observations, I expected this at around 12 EDT.
Peter, where do you get your information?
While there is no guarantee that gold will not be lower tomorrow, next week or next month, at 12 today I found myself on the phone buying just a few tiny nuggets of gold coloration – my meager finances allowed no more – when the spot price was almost precisely at its low of the day around $1188 per ounce.
You nailed it today, Peter! Thanks.
Check out the 6pm post of Peter Grandich (market update) to reassure yourself that the world did not end and get some expectation of where the markets might be headed from the only guy I know who has consistently been calling it right for some time now. (Past performance is not necessarily indicative of future results – but what else you gonna go by?)