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Gold Bottom Buyers Beware!

Sorry to say (If you are a gold permabull), gold and gold stocks haven't bottomed yet. You will see starting Monday for the next few weeks (and probably months) gold and gold stocks will be going down.

The next few weeks will gut wrenching if you are long. By around January 28 I expect a short term bottom (not the final bottom) with maybe a two week rally. But with a series of higher lows and lower lows. By January 28, I expect GDXJ, GDX, andGLD, to retest their recent lows.

Also I don't expect a top in the US dollar until January 21. It will keep going higher until then, providing more headwind for gold and oil. However whatever top that is, I believe will be a major top for the dollar. Although I don't expect any major downside in the dollar for several months, starting June 15, the dollar will begin a severe and long lasting move lower.

The analysis is based on vedic financial astrology.

 

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