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Wednesday, 14 December 2011

"Gold bull market on last legs - Gartman"

For my refutation of "Gold bull market on last legs - Gartman", see this recording. Gold may well decline to $1475 as he predicts, but a 20% fall is only one criterion for a bear market as he claims: more criteria are required to confirm a bear market. Gold's 30% fall during 2008 did not end the bull market.

I believe gold price movements will become more volatile, but the market will remain long term bullish, with violent pull backs on the way.  I believe the gold price will fluctuate increasingly wildly because quantitative easing and other sources are making massive liquidity available for speculation, and western fiat currencies are in crisis as global financial tectonic plates continue to collide.  Negative media announcements about gold are often made when fiat currencies are in crisis, to deter switching from currencies to the safe haven of physical gold.

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