Chitracapital: Gold on a Monthly chart.. target of $700/oz by 2020

Tuesday, May 7, 2013

Gold on a Monthly chart.. target of $700/oz by 2020

Gold is at the cross roads and we stopped following since Aug 2012. see 33 year chart

Monthly chart looks scary. The probability of touching the break out of cup is very high, which is $700/oz, in another 5-6 years. European Countries (EURO) is completely broken and some weaker countries collateral will be called in the next 2-3 years. Hence Gold market is expecting a sell off and big funds are dumping.

Asian countries like India will witness a real correction in Gold and Real estate prices in the future. Real estate prices are artificial in India and China and will burst as the bubble blows up.. be prepared.. Invest in US$$, Housing stocks

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