Gold will bottom, better yet move, when time is right, but the resurrection of Prechter’s bearish call/view on gold on the news wires is often well timed for gold bulls.
Meanwhile, the most popular alternative to currencies, gold, isn’t such a good buy either, according to the veteran market watcher. “It’s losing upside momentum at the same time more people are getting more enamored with it,” he notes.
Contrary to popular belief, “gold tends to rise when the economy is expanding not when it’s in recession,” according to Prechter’s research. And, as we’ll discuss in more detail in another clip, Prechter thinks deflation and economic depression are a foregone conclusion.
Source: finance.yahoo.com
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