Thursday, August 25, 2011

Martin Armstrong: Gold to Correct for 1-3 Quarters Before Resuming Uptrend

Martin Armstrong presents an alternative viewpoint to those (including The Doc) expecting a strong autumn rally in precious metals.
Armstrong believes a weekly closing for gold below $1617 will signal a serious correction that could take gold back down to $1350 before resuming its uptrend.
Armstrong looks for the potential correction to last 1-3 quarters.
Long term, Armstrong believes the current correction to be healthy for the gold bull, as it has prevented a phase transition up to $2,500.

Price Targets.